Question for Land and Home Building Investors
When an Investor is looking to buy land, how do they know if the price for the land is too high? how do they determine an ideal price of the land if they want to do a construction project.
For instance if a lot in a neighborhood is 200k and it’s half an acre, how does he determine if it’s a good lot for construction? Hope the question isn’t confusing.
Most Popular Reply
You have to know where the builders, developers, and homeowners want to be and what they need. Get ahead of them and have the lot they want. For instance, the land I just developed was in a hot school zone. I knew what builders were paying for lots so I went out and found some, cut the lots, and took to market. Path of progress. It's less of a gamble than just buying a parcel and hoping someone will want it one day.
Clint