Anyone ever bought a lot and put a few townhouses or condos on it? - GoFuckYourself.com

detoxed · 10-04-2006, 11:04 AM

I found a lot for $175k, can get at least 6 units on it zoning wise, can sell normal 2/2 3/2 for $175-250k depending on how nice they are. Think this is worth it?

Jon Clark - BANNED FOR LIFE · 10-04-2006, 05:17 PM

hell yes........

squishypimp · 10-04-2006, 05:23 PM

if you have the funding it is.

rodney25 · 10-04-2006, 05:26 PM

Quote:

Originally Posted by detoxed

I found a lot for $175k, can get at least 6 units on it zoning wise, can sell normal 2/2 3/2 for $175-250k depending on how nice they are. Think this is worth it?

Sounds like a wise investment there. Good luck.

L-Pink · 10-04-2006, 05:39 PM

Detoxed, if it's an inside lead, buddy deal, etc. look into it.

If the property has EVER been listed, advertised, or obviously stands out in an area heavily developed ...........

It means the pro's have passed, if they can't make it work you never will

detoxed · 10-04-2006, 05:43 PM

Quote:

Originally Posted by L-Pink

Detoxed, if it's an inside lead, buddy deal, etc. look into it.

If the property has EVER been listed, advertised, or obviously stands out in an area heavily developed ...........

It means the pro's have passed, if they can't make it work you never will

It hasnt been for sale long. This place isnt like most others. Prices are climbing and havent stopped, and population is growing. Small town whole county has about $40k people, this is in a prime area near university, downtown, and only problem would be costs associated with some kind of land problems, its wooded, not heavily, but its only a 1acre or so lot, couldnt be that expensive to develop. Former area was poor people, owner probably cant afford to do anything to it just wants to "cash in" by selling land

L-Pink · 10-04-2006, 05:54 PM

Quote:

Originally Posted by detoxed

It hasnt been for sale long. This place isnt like most others. Prices are climbing and havent stopped, and population is growing. Small town whole county has about $40k people, this is in a prime area near university, downtown, and only problem would be costs associated with some kind of land problems, its wooded, not heavily, but its only a 1acre or so lot, couldnt be that expensive to develop. Former area was poor people, owner probably cant afford to do anything to it just wants to "cash in" by selling land

The "key word" is university. Downtowns come and go, most always have shitty areas, most adults want single family ......

Universities are in their own category, always are expanding, multi tenant/apt are the norm. You could also hold onto the land, and see what happens.

Building seems simple ... just like putting up a porn site ... it isn't.

Visit other cities and see what similar situated properties have really worked, building wise. If you can sneak in "multi-use or commercial/retail zoning near a university you have a gold mine.

marketsmart · 10-04-2006, 05:56 PM

sure, go for it!

detoxed · 10-04-2006, 06:08 PM

Quote:

Originally Posted by L-Pink

The "key word" is university. Downtowns come and go, most always have shitty areas, most adults want single family ......

Universities are in their own category, always are expanding, multi tenant/apt are the norm. You could also hold onto the land, and see what happens.

Building seems simple ... just like putting up a porn site ... it isn't.

Visit other cities and see what similar situated properties have really worked, building wise. If you can sneak in "multi-use or commercial/retail zoning near a university you have a gold mine.

yeah I know its not simple or i'd get financing for the lot already.no use paying cash at this point. i know property in this town though, its a good location for students or people that work nearby in all the new business coming in, just got an office depot down the street opening last month.

DaddyHalbucks · 10-04-2006, 06:09 PM

Single family homes are better investments.

detoxed · 10-04-2006, 06:13 PM

Quote:

Originally Posted by DaddyHalbucks

Single family homes are better investments.

Well yeah I live in one and plan on keeping it when i get my next home. But building wise, its a lot of work to buy 6 lots, maybe from different people, build 6 houses on different lots, etc in a timely manner, to all on 1 lot.

10-04-2006, 11:04 AM	#1
detoxed vip member Join Date: Jan 2003 Posts: 17,798	Anyone ever bought a lot and put a few townhouses or condos on it? I found a lot for $175k, can get at least 6 units on it zoning wise, can sell normal 2/2 3/2 for $175-250k depending on how nice they are. Think this is worth it?

10-04-2006, 05:23 PM	#3
squishypimp PostMaster General Join Date: Aug 2006 Posts: 10,781	if you have the funding it is. __________________ Signature For Sale

10-04-2006, 06:09 PM	#10
DaddyHalbucks A freakin' legend! Industry Role: Join Date: Feb 2004 Location: Las Vegas, Nevada USA Posts: 18,975	Single family homes are better investments. __________________ Boner Money

10-04-2006, 05:17 PM	#2
Jon Clark - BANNED FOR LIFE North Coast Pimp Join Date: Dec 2005 Location: 304-534-757 Posts: 9,395	hell yes........

10-04-2006, 05:39 PM	#5
L-Pink working on my tan Industry Role: Join Date: Mar 2005 Location: Florida/Kentucky Posts: 39,151	Detoxed, if it's an inside lead, buddy deal, etc. look into it. If the property has EVER been listed, advertised, or obviously stands out in an area heavily developed ........... It means the pro's have passed, if they can't make it work you never will

10-04-2006, 05:56 PM	#8
marketsmart HOMICIDAL TROLL KILLER Industry Role: Join Date: Dec 2004 Location: Sunnybrook Institution for the Criminally Insane Posts: 20,419	sure, go for it!