Dirt Cheap Subdivided Lots In TX And NM
I have recently been seeing quite a bit of vacant land for sale on ebay, in places like Texas and New Mexico. Selling from between $2000-4500 per 1 acre lot. Although the lots are in the middle of nowhere and getting electrical, sewer, water, let alone paved roads is somewhat of a luxury when buying theses properties. I am just curious where they are purchasing lots for so cheap. I assume they are purchasing them for resale for between $1000-2500, that seems like the only price that would make it worthwhile. Does anybody have a contact/resource in TX or NM that might be able to help?
Your help is appreciated,
Jorgan Cattin
[ Edited by jcattin on Date 08/16/2004 ]
I'm not sure I understand. Are you asking how the E-bay guy gets his lots? He buys hundreds of acres and files a sub-division. Not terribly difficult.
As to how to get lots already sub-divided i suspect that in a few years when the people who bought them on E-bay figure out there is nothing you can do with two acres of New Mexico desert (or whatever) that you'll be able to buy them really cheap.
In addition to commercialking's point (which is well taken), the other thing to keep in mind that X$ per acre doesn't necessarily translate into X$ per building lot. Areas are zoned to permit different minimum lot sizes. So if a parcel of land is zoned for, say 5AC, buying 1 AC won't get you 1 building lot.
All the more reason to think of land prices in terms of $$$ per building lot and not per AC.
I don't know guys...a 2 acre tract of NM desert with no water, power, gas, electric, or paved road really sounds great to me. Nancy and commercialking...why don't the three of us go in together and but an entire block??!! We could be neighbors! Of course, we would have to form an HOA so I could make sure you two keep your mobile home up to snuff but I am sure that we can work out that detail after we all go under contract!!
:D
woodsong,
Sounds like a plan. Would love to see the developer escrow agreement on that.
Nancy
I don't know. A three person HOA? I'm afraid you two would gang up on me and I'd never get permission for my hot tub. And you know how cold those desert nights can be.
Actually,
It would not be your typical HOA. It would actually be more like a dictatorship...with me as the leader.
:-D
It sounds to me more like a commune where Woodsong is the Big Kahuna.
Oh well that makes it much easier for me to sign on-- I've been looking for a way to abdicate all my decision making to somebody else anyway.