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?
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?