We are new to investing and have received a call from an offer we had sent out. Owner has 2 m/h sitting on 20 acres of spiltable land. How do we go about determining if this is going to be a good deal for us? We need to know how to go about estimating the cost of splitting the land and and maybe adding a few more m/h to it. Property located in Riverside CA, water supply is well. The two homes are currently sharing one well and if land is split would probably require add’l well drilled. What are the right questions to ask what other due diligence s/b conducted before we seal in the offer. Owner also needs long escrow to move equipment and family off land. Any advice would be greatly appreciates. Our thoughts are that this could be sold out as (20) 1 acre lots or even 4 lots with 5 acres and a mobile home on each. any thoughts
this is not answering your question, but mine: what the hel/ does it mean that you received a response to one of your offers, and now what am I going to do with the property???
I’m sorry for how this sounds, but clue to the clueless: have an idea before you offer
:o
For your information, we were prospecting what was suppossed to be a home Fsbo. it turned out to be a mobile home with land. We did not want to dismiss the deal just because it was a mobile home, since it had so much developable land attached to it.
Does this help? How do we go about determining the cost to spil the land and maybe sell as separate lots?
This would also be good for a developer to put pre-fab homes on each lot.
ask the county about how to split the land up - there’s a way, and they’ll tell you. If there’s restrictions, they’ll certainly tell you!
WILL DO THANKS FOR THE INPUT