Posted by gerald(tx) on September 15, 2004 at 18:29:13:
Let me play devil’s advocate here. I once owned a parcel such as this many years ago, and being a newbie not wanting to take a loss, it took a time for reality to sink in.
I’m not getting a good picture with lone desert acreage, no water, phone, or electrical. Understand that there is a lucrative business of subdividing and selling overpriced land parcels, and owner financing them to out of state buyers. Very few of these are ever paid off, the buyers finally realize that they didn’t make a very wise purchase and stop paying. The seller simply takes the property back and starts the cycle all over again. Some parcels and sold and resold dozens of times, giving the owner a continuous lifetime income.
Get realistic market information from the local area as to whether or not it is worth pursuing or not. If it is, then best wishes with your creative ideas and try whatever it takes to make things work.
But if it really is a $14k property (or less), then go ahead and throw in the towel, accept it as a mistake and move on. There are a lot easier ways to make money in real estate than wrestling with out-of-state raw land.
Not trying to rain on your parade, but if the situation is as I suspect, be realistic.