Real Estate Investor · Grand Prairie, TX · Member since 2016 · 11 posts · 2 votes
I'm trying to get my feet wet in REI by helping my mentor in anyway I can. He is looking for some vacant lots to build on as he exits flipping and enters into development. He has tasked me with finding vacant lots however possible. I figured what better place to ask than the BP community.
So my question is what are some of the best ways to find vacant lots below market cost? MLS, Craigslist, driving around, or auctions? Thank you for your input.
Property developer and building contractor · Lampasas , TX · Member since 2016 · 148 posts · 81 votes
9y
You named some,,, driving and researching vacant land against property records, out of area owners, direct mail efforts and delinquent property taxes are a big producer for me.....
And of course, checking for utility availability and existence is key factor! Happy Hunting!!
Property developer and building contractor · Lampasas , TX · Member since 2016 · 148 posts · 81 votes
9y
You named some,,, driving and researching vacant land against property records, out of area owners, direct mail efforts and delinquent property taxes are a big producer for me.....
And of course, checking for utility availability and existence is key factor! Happy Hunting!!
Real Estate Investor · Encinitas, CA · Member since 2016 · 3k+ posts · 3k+ votes
9y
Casey Gray It would depend on what he's looking for. If it's more urban infill then driving is probably your best bet. If it's more rural you'll find a surprising amount of land/vacant lots on Craigslist. They get advertised as hunting land, deer camps, etc. but odds are they're completely vacant of any permanent structures.
Severna Park, MD · Member since 2013 · 7k+ posts · 7k+ votes
9y
Sit at home and get on google earth . Target the areas , look for open lots . Then drive to check them out . Also look for homes that have large properties . Many times they are situated on multi lots .
But you must do your research . Case in point . A developer bought property next to a friend of mine . its 4 lots , on a paper road , the developer has egress and ingress easement rights OVER the road . Water and sewer are 15 feet away from his lots . And he CAN NOT hook up to those utilities unless 4 neighbors agree to deed the right of way to the county . All of the neighbors will lose 25 ft of their yards , and they want considerable ( 5 figures) money to do this . The developer got a great deal on the lots . But with buying out the neighbors , road improvements , stormwater ponds , water discharge easements he is looking at another $250,000 on the low side , BEFORE he digs a foundation . He wont make a dime