Help me outwit a scam...or at least stop the loss!

Help me outwit a scam...or at least stop the loss!

FREMONT, CA · Member since 2011 · 8 posts · 1 vote

Hi.  Thanks for reading.   My dad was scammed and I now own the problem...can you help me with ideas of what to do???      10 years ago my dad bought 10 acres of open land for $10k in upstate NY.  It's got underbrush and a few trees, and its got frontage on a busy 2-lane road.   He may not have known it was 'wetland' and cannot be used for building...or maybe he did.  He passed away 5 years ago.  My brother was taking care of things (he is not business-minded at all), and one day I thought to ask him:   Hey, what about that old property...do we have it? what are the taxes?  Well, we do, and taxes are about $1k per year!

So here's a non-useable property that I've paid over $10k in taxes on top of the $10k cost...and it has no sale potential, according to a new real estate agent I just found.  (She wanted to help and to list it, until she found it was 'wetland.'   

So how can I let go or dispossess this property and in some way recover some money?    BTW I don't live in NY so i cannot really manage any dealings that take a local presence.    Can I donate it, but to who and why would they want it?  Can I call it a Wildlife Refuge and take a tax break?   if so do you know the details of how to do it?     

I appreciate all suggestions, but pls keep it constructive and positive.  I am very distraught that my father was scammed and my family has lost $20,000 or so.   thank you.

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Rental Property Investor · St. Petersburg, FL · Member since 2017 · 3k+ posts · 4k+ votes
8y
@Josh MADONNA depending on where it is ( you'd have to do a little research in it) you could sell it as "recreational land". People will buy it for hunting on, or for dirt biking, etc... there is a market for unbuildable land, you could call a realtor in the area to find out if that option is possible. Good luck!
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  • Catskill, NY · Member since 2018 · 636 posts · 668 votes
    7y

    Also, Clear Channel operates billboards near me so I did a quick search and it appears they're in Ulster County area, too. 

    https://business.ulsterchamber.org/list/member/cle...

    You can go to that link and send an E-mail to the representative in the area. 

    I tried posting the phone number for you but BP doesn't allow that.

  • Appraiser · Mesa, AZ · Member since 2017 · 20 posts · 9 votes
    7y

    Depending on the zoning, billboard development may be an option.  We research zoning and feasibility of billboards on a regular basis.  All of the options posted here are worth considering.  Billboards are typically only allowed in Commercial and Industrial zoning districts.  However, you might be able to get a variance from the City or State if you can show that there is no other viable use and it would generate some tax revenue for local agencies.  

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