Questions about vacant lots/subdivisions, can you wholesale these?

5 Replies

I live in a small county in Georgia. There are two vacant smaller subdivisions/properties with utilities already in place, in an area that has been growing exponentially since the 2000's. They have been vacant here for years and since I am new to REI, I wouldn't know where to begin to try and market them, or who to market to. Would it be a good idea to try and do something with them? Should I seek someone who is ambitious or savvy to help me with the potential deals? Apparently, investors in my area aren't trying to pursue such an ambitious venture. Any comments or help would be greatly appreciated. Thanks!

You need an exit strategy before you undertake this. I suspect there isn't one, which is why the lots have been undeveloped for a long period of time.

I don't know exactly what you mean by this? Find an investor buyer for these?

 Have you tried searching the BP forum for threads about land and vacant lots? I'm sure there is some good information out there.  Also, there are a couple of investors who have podcasts dealing with investing in land. Mark Podolsky and Jack Bosch.

There is a reason why investors are not trying to get in on that deal, probably because of title issues or a long list of other problems. 

Go to the county website and pull the property tax information to determine ownership. Contact the owners by phone, email, or mail. Tell them your interested in purchasing or developing the subdivision and you want understand the status of the properties.

But move on, a subdivision deal for a newbie could only be accomplished with knowledgeable JV partners.

Ok, thank you guys for the input. I don't want to bite off more than I can chew for my first attempt at a deal, gotta crawl before I can sprint!  I will do a little research to see what the status is with them, but just for educational purposes.  Who knows, someone may be interested in developing these and I can do some fishing?  Thanks again!

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