Hi! I'm a wholesaler who is targeting Birmingham, Albama. I've been doing pretty well out in that market. But I keep coming across properties that are beyond destroyed. They need to be demolished. I was wondering is there anything that can be done to make money from these types of properties? I've tried to wholesale them but I have a hard time getting investors. Is there anyway of making money from them? I was thinking about purchasing them myself and doing the demolish and cleaning up the land to sell it to a developer, but is it worth it? The homes in the area sell for 60k to 90k. Anyone have experience in this? Thank you!
https://www.washingtonpost.com.... Instead of trashing it, donate some of the materials and recognize the write-off to charity at fair market value
@Alex R. Have you talked to any larger contractors in the area? I could foresee a partnership where you buy the land, demo the house, and sell it as a residential spec/build to suit. Have drawings and maybe permits going. Builder builds after property is sold.
Buyer would be someone who wants a semi-custom house. Basically you’re doing the leg work for the builder and guaranteeing them a new house build when sold.
No idea how a partnership like that would actually work, but I’d imagine someone could figure it out!