Hello all, so I’m a newbie getting into real estate. My mom had just passed down to me an acre of raw land in Jasper, TX. So my question is I have no idea how to go about this at all. What are some questions I need to be asking myself and how can I turn this investment into income?
You asked yourself the right question, most people would have considered selling. See how much capital you have access to and that will give you more options.
Hi Ashley, If you are planning to build...most construction lenders will allow you to use your equity in the land as your "down payment" on a construction loan! You can even get construction to perm financing which means after your construction period it rolls over into a long term mortgage (if you plan to use it as a long term hold, rental). Best of luck!