Updated almost 6 years ago on . Most recent reply
Buying land, and selling land.
Good evening ladies and gents. New to the real estate world and such. So bare with me if I seem a little (for a lack of a better term, "dumb," on asking some questions. I purchased a mobile home with an acre of land, that I'm currently living in, and have owned it for 2 years now. Well, in the last month, the land next door to me has came up for sale. Which is divided into two lots, but 1 and a half acres total. Now my question is, would it be worth it to buy, and would it increase my current property's value, because they are side by side. Therefore, giving me little under 2 and a half acres. I'm wanting to get into a house, but don't know if I should go that route, and (use both property's as collateral for a loan,or however that works,)to buy the house. Or sale keep both property's and become a landlord, and later build onto the newly acquired land. Any help or guidance would be a blessing. Thanks!