3bd 2ba on a large lot. What are my options?

[Menon Whitsitt]

Hi,

I am about to close on a rehab property with plenty of potential for either a hold or a flip in the Awendaw area near Charleston SC. The house is situated on a 1.5 acre lot that appears to back up to river front/marsh land. I am having a survey done to determine the exact boundaries next week. What are some ideas that can maximize the potential of such a large piece of property for a relatively small price? Maybe a mobile home behind the current house? I went into this with the idea of a flip but if I can make good use of the property it might make for a better long term hold.

I appreciate any input,

Chris W. 

[Troy Gandee]

@Menon Whitsitt You could have a difficult time trying to utilize any of the land for mobile homes. I agree with @Russ Scheider and @John Semanchuk about the flood insurance. I think Awendaw and McClellanville are trying to reduce their mobile home presence near 17 in anticipation for expansion. There are tons of lots available up and down that stretch of road, too. Most of those lots are HUGE. If you could offer a smaller lot, it may contract well to some of the bigger ones.  If you keep it as a rental, consider that the whole area should be growing in the next few years. Not only would you be getting rental income, but the property should appreciate. It would just be kind of a long term flip! I'm a Realtor. I'd be happy to pull some comps and email them to you.