Dallas, TX · Member since 2014 · 31 posts · 19 votes
Hi all,
A group of us just bought some raw land in an up and coming area of Dallas. The land has very good/liberal zoning that will allow for a variety of uses. Our plan is to hold the land while the area improves as it is not ready for development (at least not ready for a development that would maximize the zoning, which in turn would bring us the highest price from a developer).
My question is: Are there any strategies you have thought of or have heard about that would help us cover our carry costs (taxes,mowing)? Obviously the goal would be to make it as low cost and low impact as possible in the interim.
Land size is 19,000 sqft. Very urban area. Taxes are $12,000 a year.
Rental Property Investor · Erie, PA · Member since 2018 · 6k+ posts · 9k+ votes
6y
I got a buddy who goes to upset tax sales he buys up wet areas and random plots of land on the sides of highways for nothing .nobody wants to build a house on these ..he buys often for just a few hundred bucks at these sales .
Then he sets up billboard stations with poles . He markets them for sale at crazy prices and tries to get local business to advertise too . Recently he got 7 acres for 600$ and he’s in tAlks to sell at 16,000$
Rental Property Investor · Malvern, PA · Member since 2016 · 1k+ posts · 933 votes
6y
Is it feasible to lease it to a farmer? I saw in your post that you are mowing it which made me think something must grow there.
Alternatively, can you turn it into naturalized land at low cost so you don't have to mow it? You may be able to do this with a 50lb bag of wildflower seed. You tell your municipality you are growing a wild meadow to support the pollinators. Meadows ought not be mowed. Check your local ordinances.