Buy Vacant Lot in Paradise CA

[Rich Wu]

Hi all,

I am still new to the real estate investment. I notice there are a lot of vacant lot in Paradise CA which the price is quite appealing. Paradise was impacted due to camp fire on 2018 and is on-going for its recovery. My first thought of the investment plan is buy and hold for 5~10 yeas and sell. Here I have some questions and hope to know if any of friend here have experience on investing vacant lot.

1. Do you buy vacant lot insurance to protect the liability?

2. Do you hold the vacant lot under LLC?

3. Do you usually buy lot to hold and sell or you will build new home to sell?

4. Is buying lot in Paradise CA a good investment idea?

5. Different from buying investment real property, what key things should I be careful for buying vacant land?

Glad to be here and hope to make connection with the community.

Rich Wu