Tearing down an old house for land value? (Lafayette, Baton Rouge, LA)
Guys,
I'm thinking a little out the box on this one. I have an old wood house on piers near my home that is slowly wilting away. It looks to my beginner eye that it is passed any point of return. It's just falling apart basically. Is it feasible to buy the property at a real low price, and put in the sweat equity to complete the tearing down of the home in order to gain the land value? Just curious to what thoughts are out there.
Thanks