New Construction Potential Strategies

[Hesham Farrag]

Hi, I'm new to this site. I own a piece of land already zoned for R100, have plans done for one (1) SFR, have had a pre-submittal meeting with the city - but now an opportunity popped up with the adjacent parcel (a small .2 acres entirely in a flood zone + a single family residence - two parcels being sold in one). Purchasing just the land would unlock the ability to build two (2) SFRs on my piece of land. But the owner is not budging to sell either piece at a realistic price.

I would like some guidance on strategies to overcome and even what options are out there for financing besides the traditional (buy the house at 20% down, rent it (likely at a loss), and then proceed with building on the adjacent lots the other two homes).

Thanks for the help all