While looking for wholesale deals, I found a seller who owns a little less than 1/2 acre lot in Kennedale. She currently has a single wide mobile home that is in bad shape (needs to be demolished), the brush (trees, vegetation) is overgrown and needs to be cleared, and she is extremely motivated to sell.
I have a few questions:
1) The lot is located in a mixed use area, consisting of residential, mobile homes, and a few warehouses. There a several high-end single family homes and neighborhoods being built on the lots in the immediate vicinity (within a 1-2 minute walk). However, I cannot find any recent comps for similar sized lots. There are several for sale right now, however. My question is, how do I go about finding a value for the property?
2) Do I use the same TREC contract that is used for single family homes? If not, which one?
3) Does this sound like a potential deal? Does anybody know of builders/developers who might be interested?
