If you had an Acre of unincorporated land....

3 Replies

If you had an acre of unincorporated land what would you do with it? Currently has a home needing a good amount of work. (foundation and roof) It is relatively flat has a creek at the back of it. Would you fix the home? Can you build a few small slab houses on it instead? Can you do a mobile home park? Just trying to think outside the box and maximize the opportunity. 

I would think there would be a lot of possibilities depending on what the city and or county would allow.  Also depends on what your pocket book allows as well.  Depends on the condition of the house.  Roof is easy, foundation I would think can be tricky and maybe not worth the effort.  The thought of a MHP would be nice but again depending $$$ amount and city/county rules. Just my thoughts.  I am sure there will be a lot of the more experienced guys out there will chime in.  Good luck in your venture.

Thanks for chiming in @Mark Gruetzmacher . Only part of the property needs foundation work (built at different times). We thought it may be possible to build two small slab style houses and rent them out. You would have a total of 3 on the acre and this would be more of either a cashflow or "package" deal we sell. If we went this route we would most likely have to find an investor. 

Check with local zoning officials first. You can see what is legally allowed for development. Does the lot have sewer in place? If not your on site septic system requirements will limit your density. You may try rehab and split a half acre out to sell another lot.

Clint

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Get the Ultimate Beginner's Guide

Sign up today to receive the popular eBook for free!