Anyone have experience buying triangular shaped land? In general, the land in this area doesn’t necessarily sell easily and is generally under $1,000 per acre unless it’s a large piece of land.
@theivyleagueceo the only deal I ever lost money on was a triangular-shaped parcel. More on that here: https://retipster.com/forum/topic/33/what-s-the-worst-investing-mistake-you-ve-ever-made
The problem with my property was that the building setbacks compared to the size of the property made it so that there was no buildable space on the lot (this is what happens when you use the “shoot from the hip” method like I did, and buy a property without doing your due diligence upfront).
So, that doesn’t mean your triangular-shaped property can’t work out, but there can be some weird issues with lots that are oddly shaped like this, so be careful.
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@retipsterseth Hi Seth. Thanks for responding again! I appreciate the honesty about losing money on this deal. I always perform due diligence because as much as I want to make profit, I also want to not lose money. Due diligence just helped me avoid purchasing THREE pieces of land that would require easements! I’m going to decline this deal because he wants too much money for a triangular, small parcel of land. It’s like .1 acres! I also just called the city and they said my gut assumptions are spot on. Thanks so much!
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