selling lot to Habitat for Humanity or similar group

General Real Estate Investing
1

I just bought a lot for a very low price of 10K It is presently unbuildable due to setbacks unless I build a structure that is only 14 feet wide. Single wides are not permitted. It’s 25 x 150. It is adjacent to a lot which is also 25 x 150. On the other side is a single family home and there is also one to the rear. Without going into all the details I intend to hold it until I can assemble or buy enough square feet to build on it. If I combine it with the adjacent lot which is also 25 x 150 I can easily sell it for $55-60K.

Someone just suggested that I approach habitat for humanity or a similar group and offer it to them for sale since they might be able to slice through the red tape of setbacks due to a severe shortage of affordable housing here. They are currently having to pay 25-35K for lots. Understand I am not going to approach them with a donation of the lot since I keep charity and business completely separate. Anyone ever had success with these organizations?

2

Hey,
I would highly consider donating or selling the lot at a severe discount to Habitat for the PR and good will value. They are a great group to which I contribute regularly. Get to know them and good things will happen. Just this past month a Habitat home come up on the foreclosure list. If I had given them a lot and had marketed them perhaps I could have gotten first crack to solve that problem for them and their client.
Peace,
Richard

3

Thanks for the reply Richard

After speaking with the head of planning, I was informed I can legally build a structure no wider than 15’. But, they provided me with an application for a variance request based on a hardship created several years ago when the lots were initially subdivided and sold. In short, I can hopefully get a footprint of 17’ wide, possibly even 19’ wide. A few feet will make a tremendous difference in appeal. I found a floor plan online which is two stories 17’ x 34’ which will be great if they approve it.