Small in town lot or 60 acres of raw ground, which teaches you more on deal one
Trying to pick a lane and land keeps coming up because there's no rehab in it, which suits me since I know nothing about construction.
The two shapes people push me toward are opposite. Infill lot in a built up area, maybe a quarter acre, water and sewer at the street, buyer is a small builder who already works that block. Purchase might be 20k, fee is small, and the whole thing turns in a few weeks because everyone knows what the lot is worth.
Or a big raw tract an hour out, no utilities, access maybe by an easement, buyer is a rec buyer or someone splitting it. Purchase could be 60k, the fee is much bigger, and the marketing timeline could be months. The guide chapter says land can be slower to move than houses and the big tracts are presumably where that bites hardest.
The argument for the lot is you learn contract to close mechanics fast with less at stake. The argument for the tract is that the money is in the complicated ones and doing an easy deal first teaches you an easy deal. I genuinely can't tell which of those is the better first lesson.
Better first land deal?
10 votes