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Real Estate Deal Analysis & Advice

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Xiang L.
  • New York City, NY
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should I buy the house with the land?

Xiang L.
  • New York City, NY
Posted Apr 4 2018, 09:06

Hello, I am interested in buying a small single family house in a decent neighborhood (average median house price around 450k), but the seller would want to sell the land (50x100) next to it together for an extra 100k to make a deal. hypothetically I can negotiate it a lower price for the land (any suggestion on how to determine the value for the land), what kind of investment can I make to turn the land into something profitable rather than just being wasted? given this is in the state of NY and the property tax ($1649 yearly for the land) is high...any suggestions/comments?   

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