I’ve been looking more closely at smaller infill lots in Metro Atlanta lately, especially ones that aren’t perfectly shaped or are a bit tight on space.Curious how other investors are approaching these right now, are you still building on these types of lots, holding them, or passing altogether?I'd love to hear how you’re evaluating deals like this in the current market
Usually setbacks determine what city/county allows. In my experience, new investors endup buying the odd shaped lots or rare lots (no easement) in tax sales without proper due deligence. So, my opinion, not much one can do with them, other than helping county get their property taxes.
Some lots aren't a deal if they are free. If there is a small lot that cannot be reasonably built upon due to setbacks, we can go through the planning process and then go through a zoning appeal to reduce the setbacks, but we don't want to own the dirt before taking that chance, especially if we aren't talking about a minor reduction. Depending on the desirability of the area, sometimes it is easier to put up something small enough to fit without variances, but you are then tying up management time and capital on a project with a capped upside potential.