I own the land, now what? Seeking advice about an exit strategy

[Tina Swanson]

Hello! I just recently acquired 2 plots of land in St Cloud Florida in a gated townhome community from a tax deed auction. I own the 2 units at the end of an 8 unit block. 3 of the plots are still county owned and the remaining 3, 2 are owned by out of state companies and the 3rd by a single gentleman. My original plan was to build the 2 units then sell them. But the site is currently unbuildable especially without owning all the lots in the block. I am trying to figure out what my exit strategy is at this point. Any suggestions or insight would be greatly appreciated!

[Jay Hinrichs]

Quote from @Chris Seveney:

Quote from @Tina Swanson:

Hello! I just recently acquired 2 plots of land in St Cloud Florida in a gated townhome community from a tax deed auction. I own the 2 units at the end of an 8 unit block. 3 of the plots are still county owned and the remaining 3, 2 are owned by out of state companies and the 3rd by a single gentleman. My original plan was to build the 2 units then sell them. But the site is currently unbuildable especially without owning all the lots in the block. I am trying to figure out what my exit strategy is at this point. Any suggestions or insight would be greatly appreciated!

 There was a reason these went to tax sale and no one wanted them. Hopefully you did not pay too much for them but basically your best bet isto let them go to tax sale again and eat your losses. 

When buying at tax sales due diligence is key. You could have avoided this with the research.

Common sense also prevails in many instances where if there is land in a townhome community - why did the original builder not build there as townhomes are not built by individual owners. 

agreed the exit is either the greater fool theory or contact the adjacent owners and make a deal they are probably in the same boat you are in.. I have seen some in FLA ( I had one client in particular that I funded there) that actually did pretty good buying low value land and flipping it.. She made so much money that she left me to go on her own.. Also she was a lawyer or law student who had not taken the bar so she could do her own quiet title work big advantage to her.. Smart lady that one. I sure hated to see her go ..