So I own 10 acres of land in Texas free and clear. Ive had it listed for a couple months now at $89,000. This is what my realtor told me it should be listed for. No offers yet..
My father does not want me to sell it, he offered me $60k so we could keep it in the family, but I really don't want to sell it for that much below market value. I originally bought the property from him when he needed money. Im looking to start my first flip soon and really could use some cash to cut out the hard money lender. Any ideas how I can use the property to get some cash that will benefit both my father and myself?? my ideal situation would be to keep the property or have the option to buy it back....
If it's typical Texas wooded, maybe setup a deer lease for a couple hunting clubs? "Split" the land in half, setup a couple of simple structures for sleeping, and charge a certain amount per person using the land for a season. If you setup the club yourself, you could fully manage / screen the people involved. Not to mention that you'd be able to charge more per member probably. Or just contact a local hunting club and see if they're interested. This would give you a large sum of money with less work.
Just a shot in the dark, but it may be something to entertain just to get some type of income out of it.
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