From: Robert Kim 
Newsgroups: misc.invest.real-estate
Subject: maximizing inherited property return
Date: Mon, 16 Feb 2004 22:59:38 -0500

Hi, all. A friend of mine has a little over 1 acre of land that used to
hold 3 trailers. It is now empty and he is wondering what to do with the
property. He said city sewer is available but he has to run lines to the
property. The property is located about 25 minutes from downtown Columbia,
SC. He said it is in a rural area that is still being developed and that
his land is worth about $25,000. On one side of the property is another
small trailer park and the other is a military installation where no
further development would be done. Across the street are houses in a
developing neighborhood that he said go for about $80,000 to $100,000.

He suggested that maybe he could have the property subdivided into 2 and
build 2 small houses on it for rent. As it is, the property already has 2
different addresses so it may already be subdivided (he isn't sure as he
was given the property by his parents). Building the houses would of
course be an expense. He is only a graduate student so his salary income
is not high. He is thinking of selling the property,also.

Does anyone have ideas how he can maximize return from this land? I told
him maybe he should hold onto it and not sell it,i.e., try to get rental
income from it somehow but house-building could be a problem on his
limited student income. TIA.

Bob