Equity in land

3 Replies

My wife and I were given a chunk of land to build a home on by her family. Currently,  we do not have the money to build the house we'd like. 

I wanted to get some advice or ideas on how I could use the equity in this land to start my real estate investing. The land appraised for a value of $70,000. 

We are both gainfully employed, but do not own anything else other than our cars, we currently rent and would like to either househack or do a live-in flip. 

Any advice/ideas would be greatly appreciated!

Thanks everyone! :-) 

A private lender may lend 30k on your land to help you with a flip.  

You may use the land as more collateral to convince a seller to carry all the purchase price on a flip.

If you decide not to keep land, you can use it as a down payment on a flip (if the seller will take it).

Subdivide and sell part of the land.

And more I'm sure.

Originally posted by @Jason Dillard :

A private lender may lend 30k on your land to help you with a flip.  

You may use the land as more collateral to convince a seller to carry all the purchase price on a flip.

If you decide not to keep land, you can use it as a down payment on a flip (if the seller will take it).

Subdivide and sell part of the land.

And more I'm sure.

 I should have mentioned before that the only thing that will be allowed on this land is our home, it's a family farm with multiple family members already living there. They won't allow it to be sold to anyone outside of the family. 

I was looking to use it as collateral on a duplex/triplex and then house hack. I just don't know if that would be possible, or if there are other options outside of selling the land itself. 

My first 2 suggestions would work as long as you own it separately from rest of family.

May not be worth it to risk family land.  You can buy houses with no money or banks without messing with your family's emotions.

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