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What do you look for when buying undeveloped lots?

995 Views | 3 Replies | Last: 3 mo ago by NoahAg
well_endowed_ag
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I'm not talking about real acreage, just lots in a subdivision, anywhere from .25 acres to an acre or so. I have several hundred thousand dollars sitting in a HYSA that I want to park in a tangible asset that will go up in value. A few years back I bought a lot for $30k north of San Antonio on a whim, and I routinely get offers for $150k on it now. I'm trying to duplicate that. Obviously prices have gone up everywhere, but there is still value to be had. I also have a couple of rental houses, but interest rates and property taxes are making those less tenable to cash flow these days.

If I'm going to start accumulating more lots, for those of you who have done it successfully, what is your list of bullet points you would focus on as far as attributes of the ideal lot to buy?

In general, I'm thinking I'll just focus on growing areas (probably north of San Antonio, which is exploding), and if it's in an HOA, make sure it's reasonable. Also make sure the tax assessment is not already exorbitant when I buy it. I'm not going to be using an agent, so I can hopefully save a little there as well.

Any other tips from people who do this?
billyjack2009
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We don't do this on the regular but having purchased and built in the last few years I'd say slope/drainage, easy build sites (require minimal clearing), mature trees that can survive equipment onsite for a build, view, and privacy.
Red Pear Realty
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AG
My cell is in my profile. I am doing this via syndications and would be happy to talk.
Sponsor Message: We Split Commissions. Full Service Agents in Austin, Bryan-College Station, Dallas-Fort Worth, Houston and San Antonio. Red Pear Realty
NoahAg
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