So I bought a 2 1/2 acre piece of land with about 140 foot of frontage making it a long and skinny track of land.
it has been on LoopNet for a while but I have been debating on what to do with it. I'm unsure if I should take out a construction loan and do storage or just sell it out right for around 90k. (I bought it for 50,000)
I actually have someone interested to purchase the property for 90,000 but I'm not sure what I should do. As in what it be better if I go ahead and build on it and have that money coming in from the storage business or just sell it.
The problem with this piece of property is part of it is in a floodplain and may need a lot of dirt work.... Half of it is also heavily wooded - The back half.
Looking for any advice or questions let me know thank you for reading!
@Mitchell Benson I have always found a known deal where I make money now is one I can deal with, you can reinvest your money into something else for cashflow, just MHO.