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Started By
Message
Should I buy a lot for $5000?
Posted on 4/24/20 at 6:40 pm
Posted on 4/24/20 at 6:40 pm
It's an over grown lot in a run down neighborhood without a paved road. I could buy it and clear it and sell it for 7-10 thousand. It would be a fun project and teach me about flipping land.
I've also considered building a home on it and selling. Im going to go look at it in the morning. Its only 35 minutes away from the house.
.19 acres wooded in a sub division.
I've also considered building a home on it and selling. Im going to go look at it in the morning. Its only 35 minutes away from the house.
.19 acres wooded in a sub division.
This post was edited on 4/24/20 at 6:41 pm
24
Posted on 4/24/20 at 6:40 pm to Mud_Till_May
Absolutely
Posted on 4/24/20 at 6:41 pm to Mud_Till_May
a lot of what?
Posted on 4/24/20 at 6:43 pm to Mud_Till_May
You mean it’s in the hood?
Posted on 4/24/20 at 6:43 pm to Mud_Till_May
quote:
I could buy it and clear it and sell it for 7-10 thousand.
How do you know this?
Posted on 4/24/20 at 6:43 pm to Mud_Till_May
Need somewhere to keep your precursor chemicals?
Posted on 4/24/20 at 6:43 pm to Mud_Till_May
HOA? City? A little more information would go a long way
Posted on 4/24/20 at 6:43 pm to Mud_Till_May
Any chance you can make a few buck from timber/pulpwood?
Posted on 4/24/20 at 6:44 pm to Mud_Till_May
Buy it and bury yourself there
Posted on 4/24/20 at 6:44 pm to Mud_Till_May
If you can afford it.... do it. I missed out on something years ago that I could have bought. It is now in the suburbs and worth so much more. Worst case, you sell close to what you bought it at.
Posted on 4/24/20 at 6:45 pm to Mud_Till_May
If it’s in the hood, you’re a great example of the Bigger Fool principle.
Posted on 4/24/20 at 6:53 pm to Mud_Till_May
or, you could buy it for $5k
spend $3-$4k clearing, leveling, and finishing the lot
then be forced to sell it for the same $5k you bought it for
there are much better ways to invest then try to do that with such a small area for profit and huge huge downside risks
spend $3-$4k clearing, leveling, and finishing the lot
then be forced to sell it for the same $5k you bought it for
there are much better ways to invest then try to do that with such a small area for profit and huge huge downside risks
Posted on 4/24/20 at 6:57 pm to Mud_Till_May
I thought you lost your carpet selling job?
Posted on 4/24/20 at 6:57 pm to Mud_Till_May
quote:
I could buy it and clear it and sell it for 7-10 thousand. It would be a fun project and teach me about flipping land.
Are you confident about the numbers?
Is it 2k worth of labor and expense?
What else do you need to learn about vacant lot flipping?
Posted on 4/24/20 at 7:14 pm to Mud_Till_May
I personally wouldn't buy a lot in a crappy area for 5k to make <2k.
Posted on 4/24/20 at 7:14 pm to Mud_Till_May
Sounds fantastic. You definitely should get it.
Posted on 4/24/20 at 7:15 pm to Mud_Till_May
Buy land, God ain’t making any more of it.
Posted on 4/24/20 at 7:28 pm to Mud_Till_May
If there is a church next door be sure to set up an LLC before purchasing
Posted on 4/24/20 at 7:55 pm to Mud_Till_May
Like you have 5k
Posted on 4/24/20 at 8:12 pm to Mud_Till_May
Personally. Too low of a profit margin. If you’re clearing, one little thing happens (I.e., hit a gas line, break an old septic roof, anything) and you’re under water.
With that said, if you just want to see how it works. 5000 is pretty much zero risk.
With that said, if you just want to see how it works. 5000 is pretty much zero risk.
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