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My dad just offered to give me a lot or two in Livingston, TX. He bought it off my uncle, but he is retired and wants to get rid of it. Right after he bought it, Hurricane Rita went though and trashed the area, but it has been cleaned out by now.
My dad just wants to stop paying the taxes, but with the economy he doesn't want to try and sell it.
The taxes are about $1000 a year on the two adjoining lots, about $450 on one. I don't really have any spare cash now, as I am still trying to get full time work as a nurse, but I hate to pass on this opportunity to own property.
Does anyone know anything about the area? It's in Memorial Point subdivision, in Livingston TX.
Posts: 15082 | Registered: Jul 2001
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Undeveloped lots, as far as I know. The little bit that I have been able to find out is that some of the lots are going for about $5,000. Not on the water, those are a lot more expensive, of course.
Pretty sure they are just lots though, not prepped for building yet.
Land is fairly cheap in TX, so I have no idea about their future worth. I know Memorial Point is fairly well off, and that out of 512 lots less than 200 have been developed. It is a gated community as well, but that can mean a lot.....or absolutely nothing.
Posts: 15082 | Registered: Jul 2001
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Checked with dad, he said they are not hooked up, and it would probably be about $5000 each to hook it up to water and sewer.
He thought we might like to move their and build, but he isn't sure we would like to own it unless we wanted to live there.
My uncle Dennis owned the lots, and built a house near there. You can see the water from his land, less than a block away. According to the very blurry map I downloaded, it seems that these lots are 1 block from the private community boat ramp, and across the street from the water.
Lake Livingston is the 2nd largest lake in TX.
Now you know what I do. LOL
Posts: 15082 | Registered: Jul 2001
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If he's paying $1000 a year on $10,000 in lots (with a $10,000 capital cost to make livable, above and beyond the cost of building a home), that's probably not an investment you really want to take off his hands unless you intend to live there. How do you feel about Texas?
Posts: 37449 | Registered: May 1999
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