Real Estate Broker · Member since 2022 · 9 posts · 5 votes
I have a residential vacant lot in Lake Placid, FL. I was considering getting a construction loan and building a single family home on here and then renting it out. I'm not sure what else to do with the lot. What have you done with an empty lot? Any advice is greatly appreciated. I was thinking of going this way to add another property to my portfolio.
Lender · South Lake Tahoe, CA · Member since 2019 · 109 posts · 36 votes
1y
Construct small cabins, tiny houses, or even a single-family home to rent out on a short-term basis via platforms like VRBO or as a long-term rental. Maybe a modular home? Depends on what it's zoned for, but Im with you, vacant land doesn't do much for our portfolio without anything on it making money!