I recently bought this piece on a discount in a small beach town. I wanted to buy it as an investment asset and the easiest thing would be to resell it. Here’re a few more details:

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- It’s not in the central part of the town but in the suburb area where people are actively building vacation homes, bungalows etc

-The area where it’s located is currently being developed including proper road, and communications

-The current state of the land is overgrown grass and bushes.

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Here are my first steps:

  1. Obtain the documents - waiting for the proper legal body to issue my ownership documents
  2. The actual land size is 20k ft and I need to split it with the the wife of the previous owner ( will hire a lawyer)
  3. After I pass these legal hurdles I see a 2 options:
  • Clean the land, make it presentable and sell it as a place to build a beach house ( land prices would be a few times higher than what I had bought it for so I can make a nice profit)
  • Clean the land, add a small home and rent it out

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I don’t really see other viable ideas but I’m happy to hear you out

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  • Level_Chapter9105@alien.topBEnglish
    1·
    10 months ago

    Hold on to it, keep it managed, and sell it later. Maybe put a couple of air bnb cabins on there to pay for the upkeep.

    If it’s being developed in the area, then there is a chance somebody may make you an incredible offer in the future.

  • 1776Bro@alien.topBEnglish
    1·
    10 months ago

    Unless you really love the location, I’d sell it for retail value and reinvest in something that you’re more interested in.

    • Most_Scar1671@alien.topOPBEnglish
      1·
      10 months ago

      I had some money I wanted to invest and I found a good opportunity. It’s not that I don’t know what to do with, I do have my ideas but I wanted to hear others who may have more experience with it

  • Nextgoal97@alien.topBEnglish
    1·
    10 months ago

    I’m not an entrepreneur myself but camper are a huge thing nowadays. I would consider to transform it in a camping spot for tents/campers. Must invest a little to have decent toilets, electricity (maybe put solar panels on your toilets) and clean water which if you are in Europe shouldn’t be that difficult to achieve. I give you a link for a video of a person who did it for a national park: https://youtu.be/1pgeUWAyUDE?si=-m3CC9kLwMlxGehJ

    P. S. I’m not the author and I’m not promoting anything or anyone, it’s just that I think that this woman does great content. Hope you like it too :)

  • CodaDev@alien.topBEnglish
    1·
    10 months ago

    This should be in an REI sub, not entrepreneurship. This is an investment not a business unless you’re planning on making a business out of flipping land, in which case it’s still better suited for REI subs.

    Don’t spend anything that doesn’t objectively increase its value. Make sure you CAN build a permanent structure on the lot before anything and have it surveyed, then you can start cleaning it out if you want to.

  • thonbrocket@alien.topBEnglish
    1·
    10 months ago

    Son, if you can’t tell the difference between a foot and a square foot, boy, are they going to see you coming.