Jobs nearby
Big employers within 1 to 3 miles
Think Amazon, Target, Walmart, Costco, hospitals. If it isn't clear where people will work, it's a pass.
⚡
The 60-second screen
Answer these in order. The first "no" means stop and move on to the next lot.
- Is it in one of my five markets and my target area? See "Where I'm looking" below.
- Is it at least 5,000 sq ft? The county property appraiser parcel record will tell you.
- Is the asking price under $20 per sq ft? Price divided by lot square feet. If there's a house on it, I count the lot only. The house is worth zero to me.
- Is it flood zone X? Look the address up on FEMA's Flood Map Service Center. Not sure? Say "not sure" and send it anyway.
- Is there any HOA? If yes, skip it.
- Are there big employers within 1 to 3 miles, and a bus stop within a half mile? A quick look on a map is enough.
1
The must-haves
First project: a 10 bedroom, 10 bath duplex, five and five. A property has to clear all eight of these to be a yes. It can be an empty lot, or a tired single family home that needs heavy rehab or a full scrap and rebuild.
Lot size
At least 5,000 sq ft
Enough room for a 10/10 duplex, five bedrooms and five baths on each side. Lot size is what counts, not the size of the house on it.
Price
Under $20 per sq ft
So a 5,000 sq ft lot comes in under $100,000. Cheaper is better. A house on it doesn't raise what I'll pay. I'm buying the dirt.
Location
Inside my target area
Each market has its own boundary. Scroll down to see them.
Transit
A bus stop within a half mile
People get to work without needing a car. More than one way to get around nearby is even better.
Flood zone
Flood zone X
Checked by address on FEMA's Flood Map Service Center. Not sure? Then it's a "not yet," and we check.
No HOA
None, ever
An HOA can vote later and change the rules on you. I'd rather not hand anyone that vote.
Will it rent?
A room has to win
Room prices in that ZIP need to sit about 20% under a local 1 bed, 1 bath with utilities included.
2
What ends it fast
Deal-breakers
If a lot hits any one of these, I log why and move on. No hard feelings, just a sharper hunt.
- No clear jobs nearby. If I can't point to where people will work, it's a no.
- In a flood zone.
- An HOA.
- Under 5,000 sq ft, or $20 per sq ft or more.
- Outside the target area for that market.
- A house that can't come down or be gutted. Think historic district, or someone still living in it with no way to move them.
3
Bonus points
Not required, but they make me smile.
Off marketExpired listings, for-sale-by-owner, or a quiet pocket listing.
Near public transportationWithin a half mile of more than one line, like a bus stop plus a rail station.
A single family home that needs heavy workGut rehab or scrap and rebuild, both welcome. Vacant, boarded up, fire damaged, or an estate that nobody wants to touch? Even better.
ParkingRoom for about half the rooms to get a space, plus some street parking.
Utilities close byWater, sewer and power nearby.
Bigger or side by sideAbout 10,000 sq ft fits a 20/20. About 30,000 fits a 60/60.
4
Where I'm looking
Five markets, each with its own boundary and its own bus system. In Orlando, the ZIPs are in the order I want you to hunt them.
Orlando, FL
Ready to go- Start here
- 32805, 32811, 32806
- Then
- 32801, 32839, 32808, 32822, 32835, 32807, 32809
- Boundary
- Inside City of Orlando limits, not unincorporated Orange County
- Heads up
- Parts of 32808, 32809 and 32839 sit outside the city. Check the parcel's city limits before you send it.
- Transit
- LYNX bus stop within a half mile. SunRail is a bonus.
Houston, TX
Ready to go- Boundary
- Inside the 610 Loop
- Transit
- METRO bus stop within a half mile. METRORail is a bonus.
- Extra step
- Deed restrictions get checked first
Tampa, FL
Mapping now- Start in
- ZIPs coming soon
- Transit
- HART bus stop within a half mile
Jacksonville, FL
Mapping now- Start in
- ZIPs coming soon
- Transit
- JTA bus stop within a half mile
Phoenix, AZ
Mapping now- Start in
- ZIPs coming soon
- Transit
- Valley Metro stop within a half mile. Light rail is a bonus.
5
How I call it
Every lot gets one of three answers, and a reason.
Fit
Meets every must-have. It moves forward.
Close
Misses by a little, or something's still unknown, like the flood zone. I note what's missing and decide.
Pass
Hits a deal-breaker. I write down why so the next search is smarter.
6
Where I hunt
Off market first. The best lots rarely have a sign on them.
- Wholesalers who have land under contract
- Expired listings, for-sale-by-owner and pocket listings in my target ZIPs
- Driving for dollars: empty or tired lots, and run-down homes that need heavy rehab or can come down
- County foreclosure sales
- People I meet at meetups, events and office hours. My favorite question: "Do you know anyone with a lot?"
- On-market lots last, and only when the deal is better than what everyone else can get
7
What to send me
One message per lot. Fill in what you know and mark the rest "not sure." A rough answer beats a missing one.
Address or parcel numberPlus the city and county.
Lot size and asking priceSquare feet, and the price per square foot of the lot.
Flood zone and HOAX or not X. HOA yes, no or not sure.
Jobs and bus stopThe nearest big employer and the nearest stop, with rough distances.
Source and statusOff market, expired, for-sale-by-owner, wholesaler or on market.
Is there a house on it?Empty lot, or a single family home. If it's a home: year built, rough condition, vacant or occupied, and a few photos of the outside.
Anything oddDeed restrictions, old tanks, no utilities nearby. Flag what you know and I'll dig in.
Found one? Send it.
If a lot or a tired house passes the screen, send it with the details above. I look at every one.
Send me a lot