I got a lead from a guy interesting in selling me a lot thats zoned for commercial. Right next to some railroad tracks. On the other side of the tracks, it looks like an LLC just bought several different adjoining lots for 5.5 million. They also bought a small lot right next to my lead which looks like it has a crossing over the tracks. On the surface, it looks like this company might be looking to build a residential development, and they snagged this little sliver of land to make sure residents could access the area from that side. If that were true, my lead could be worth something to somebody looking to put in a gas station or some other retail like that. My question: what’s the best way to investigate something like this to see if there are any developments in the works or something like that. Am I making sense here?
You mIght consider seeing if the owner of the property on which you have a lead would agree to sel you an option to purchase at an agreed price (perhaps for 3 to 6 months) for a small fee with the option fee applicable to the purchase price, if oyu decide to buy, and then spen another $25 +/- to record a Memorandum of Option with the county to ensure no one can buy it without the option turning up during a title search, and then reach out to the LLC and see if they would be willing to take the contract on assignment or an outright buy of the property.
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