Make Millions……. Highest and Best Use!
So, we found a lot in a small town. It happens to be a big lot that has been vacant for years in a city where they have infill and redevelopment incentives.
We grabbed the lot for $60,000. We are going to pay about $10,000 in fees and improvements bringing our investment to about $70,000. The changes that we are going to make will bring a different opportunity to the property. Instead of having a building lot for a single family home, we will have a twin home lot for two homes joined together. The only twin-home lot in the entire city just sold 5 weeks ago for $117,000.
According to our math, $117,000 is better than $70,000. Lots better. We started the city process and explain some really neat things in this less than 3-minute video:
What does this mean to you?
Highest and Best Use is a simple process teaching us to see things for what they can be, not for what they are. Cities often offer in excess of 100 different uses. Choosing the best one can be very simple. The best use is typically the one with the most density.
Get involved to learn more about real estate investing. When you change the use, you change the value. Change the use, change the value. Highest and Best Use!
Make millions…… Highest and Best Use. Mike Watson Investing. Get started now!