What should I do with 2 vacant properties?

Question

I have vacant properties in Northwest Washington with water and septic. I have no credit build up. How could I leverage all of this?

Daniel Glazov · Answer

@Theresa Harris that's true! Thank you for the reply!

Theresa Harris · Answer

look around and you might be able to find someone getting rid of a mobile home.

Daniel Glazov · Answer

@Brian Hughes thank you for your reply! Yeah it seems like a big hassle. But I do like your idea!

Brian Hughes · Answer

Maybe market to people living in Mobile home parks (with new enough homes that they are moveable) to move to your lot on a rent to own basis,  or something like that.   Lot of such MHP's are being shut down / redeveloped.

Total spitballing,  I have no experience with such.

Daniel Glazov · Answer

@David Miller thank you vary much for your reply!!! I did not think anyone would reply to me. Here is my story. I am 21 years old and I just bought these 2 vacant properties in my neighborhood and now I'm brokeb with no credit score. I don't owe anything on the properties there mine free and clear. They are now both worth around 30k each. They have water and septic on them. One has 2 bedroom septic the other one has 3 bed septic.

1. my first thought was initially to put a camper trailer on it and make the property very nice and rent it out. I could get a camper trailer for about 10K and that's not too much money but it's a steady monthly income.

2. I also want to have my own house someday so that's one of my goals but right now I'm living with my parents and that's not too important

3. One of my goals is to have a second revenue stream so how should I go about utilizing and leveraging these two properties?

David Miller · Answer

@Daniel Glazov hard to answer with no information like. Why are they vacant, what are they worth, what is your skill level and what are your personal goals. Put together a list of what you want to do and what skills you have to accomplish it.