Real Estate advice???

[mrjuice]

Okay, I have the opportunity to purchase a quarter acre lot of land on Sanibel Island, FL for $159,000 dollars. Should I take it? I live on Marco Island, but am looking for another prestigious site to be used for a secondary home to be used for investment income.

 

[oubeta]

Save it for Cuba.
there are ways right now to but prime real estate on the ocean front for next to nothing. Just a waiting game after that.

 

[Zander1983]

It depends how it compares to other purchases you could make with that type of money...

Since you're going to have to build on the site, you've obviously got a nice bit of capital behind you, which always helps.

If I were looking at setting up an income-generating investment property, I doubt I'd be building... But if the sums work for you, then go for it.