Rental Property Investor · Okeechobee, FL · Member since 2016 · 19 posts · 12 votes
I have 12 acres of vacant land in the middle of two neighborhoods. The possibilities are endless and I’m trying to narrow it down to a few different strategies that could set me up for long term wealth. Any ideas?
I have 12 acres of vacant land in the middle of two neighborhoods. The possibilities are endless and I’m trying to narrow it down to a few different strategies that could set me up for long term wealth. Any ideas?
You need to determine highest and best use. Then it's all about the numbers. There are lots of variables there. You would need to supply a lot of details for me to come up with highest and best use. You can hire an appraiser to do a highest and best use study or reach out to some local realtors and get some feedback from them but make sure you get with the right ones who are actively marketing new product.
Thanks for the heads up. I started talking to a local engineer who has done several apartment buildings and commercial plazas. I’ve been picking his brain for ideas and best use for my property. I’ll make sure to update my findings as I continue this project.