I was wondering if anyone has had any experience with flipping land? There is a lot in a neighborhood with lot prices of $40,000+. The owner has had the lot for at least 10 years and the 4 sale sign is covered with overgrown brush. I have talked to the before and they seemed eager to get rid of it. I estimated what it was take to get the property into good shape which would be approximately $8,000. This includes fill dirt, excavation, and sod. I plan to lay the sod and clear the trees myself. Is there anything else I should consider with this deal?
You need to verify the size of the property and suitability for development, utilities serving the property and cost to connect, proffers, impact fees, permit fees etc.