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20 acres and $60k cash
Posted on 7/16/23 at 6:31 pm
Posted on 7/16/23 at 6:31 pm
So I own 20 acres a few miles outside of city limits.. I have around $60k cash to play with. I originally bought the land to build a house but those plans changed and we bought a house. So now I have this land and cash to play with.
I’m coming to the MT wondering what to do with it. I’ve thought about building a trailer park or cheap 2bdr houses. Is this a good idea? I know I won’t be able to buy a lot of houses or trailers with 60k but surely I can put that down on a loan along with my land as collateral.
Help me out!
I’m coming to the MT wondering what to do with it. I’ve thought about building a trailer park or cheap 2bdr houses. Is this a good idea? I know I won’t be able to buy a lot of houses or trailers with 60k but surely I can put that down on a loan along with my land as collateral.
Help me out!
13
Posted on 7/16/23 at 6:37 pm to BayouBengals21
Bro, 60k might buy you a tiny house.
Posted on 7/16/23 at 7:03 pm to GeauxTigers123
If you’re going to put down houses, make sure you subdivide the land into separate lots. There’s a lot more to it other than just throwing up sticks and bricks
Posted on 7/16/23 at 7:19 pm to BayouBengals21
Do some research into how hard it is to get approval to build a new trailer park before you just assume it’s an option
Posted on 7/16/23 at 8:15 pm to BayouBengals21
Go travel the world
Posted on 7/16/23 at 8:28 pm to BayouBengals21
Break it into four 5-acre parcels and sell.
Posted on 7/16/23 at 8:43 pm to BayouBengals21
I’d subdivide it. Land just outside the city is desirable for many.
Granted you’ll have to grease zoning or have an inside connection. I’ve seen some get denied then the next guy approved.
I’d spend the money to clear and improve it. Otherwise it’ll just sit there. But once cleared it’ll have to be maintained.
Granted you’ll have to grease zoning or have an inside connection. I’ve seen some get denied then the next guy approved.
I’d spend the money to clear and improve it. Otherwise it’ll just sit there. But once cleared it’ll have to be maintained.
Posted on 7/16/23 at 9:57 pm to BayouBengals21
Airbnb tiny houses on the property?
Posted on 7/16/23 at 11:54 pm to BayouBengals21
Put a few cows or goats on in it and establish a “farm” so you can deduct all sorts of shite on a schedule F. Could deduct your fuel, four wheelers, side by sides, lawn mower, repairs and maintenance, trips to places you go that you may be going to “attend a livestock show”, etc.
Posted on 7/17/23 at 5:24 am to BayouBengals21
Make it into a RV park for the baws and travelling nurses. 60k should get you enough water taps and septic tanks
Posted on 7/17/23 at 7:44 am to BayouBengals21
What does the land look like? Would it be a nice place to have a few houses for short term rentals or Air BNB types? Any ponds or water sources? What is close to the land venue wise? Can you capture any of the traffic to and from those venues? We live about 45 min west of Fort Worth with 2.5 acres. I was somewhat thinking about building a barndo on my property and renting it out when the rodeo comes through to some out of towners. Not sure I'd actually do it, but I wouldn't mind renting it out a couple of times a year for a few extra thousand dollars to offset the shop/bando expense. We have the infrastructure to allow horses to stay on the property for a couple of nights.
Posted on 7/17/23 at 8:46 am to BayouBengals21
I know a guy who has a "campground". Full time residents that live in campers and work around the Montgomery area. He has $17K/month coming in as basically passive income. His place for campers is only about 6 acres.
Posted on 7/17/23 at 11:05 am to BayouBengals21
Do not do a trailer park. The hurdles and headaches are not worth it.
The RV Resort is the wat to go if you want to do that route. Lately the trends are also going the tiny home route. Partner up with a tiny home builder. If they build on wheels you can park there and collect land rent while the builder handles the sales and construction. Some areas may even let you build straight to ground. It depends on the jurisdiction.
You will need more than 60k to get it laid out, planned, permitted though.
LINK
LINK
The RV Resort is the wat to go if you want to do that route. Lately the trends are also going the tiny home route. Partner up with a tiny home builder. If they build on wheels you can park there and collect land rent while the builder handles the sales and construction. Some areas may even let you build straight to ground. It depends on the jurisdiction.
You will need more than 60k to get it laid out, planned, permitted though.
LINK
LINK
Posted on 7/18/23 at 5:42 am to BayouBengals21
i wouldnt do a trailer park. You will have to cover any kind of repairs and maint. around them and they usually go to shite pretty easy. And second you are going to have good tenants and bad tenants. During covid when they out rental payments on hold, all the landlords did not receive payments. Can you float something like that and maint. on all the property? i wouldnt recommend it unless you can put alot of time and energy into it
Posted on 7/18/23 at 6:13 am to BayouBengals21
We built six 30x50 metal shop buildings last year on a small piece of property that wouldn’t perc for a duplex. They were rented almost immediately. $650/mo on a one year lease is actually a better return than the duplex we were gonna build originally.
One renter has made his into a tint shop. Another one builds cabinets. One actually put in a batting cage and seems to get a ton of business.
One renter has made his into a tint shop. Another one builds cabinets. One actually put in a batting cage and seems to get a ton of business.
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