All Forum Posts by: Anthony Affatigato

@Michael J Bensimon I appreciate your reply! My original plan for the property was to sell It at basically a wholesale price and move on.  I've been trying to sell the property since the moment I received the deed. First I went to the neighbors then I listed it with a local agent . I'm posting to see if I had any other options to get this property to make money or another way to just get out of it so I can move on to the next venture without having the thought of the taxes in the back of my mind. I feel that now I have to be creative with my ideas. Thank you again for your help.

About 2 years ago I bought a 1.6 acre vacant lot in Dutchess county New York at a tax auction . At the time I thought I had done my due diligence but as it was my first attempt at real estate investing I missed a HUGE problem with the property. It turns out that a big part of the lot is in a FEMA AE 100 year flood zone. I've tried selling the property for what I paid for it with no bites. My question here is what are my options to make this property work for me. Can I use the equity in the land to maybe get a loan to reinvest in a buy and hold or any other type of REI?