Bridge, Rental and Build
The Infill Lot Strategy
Short-term capital is a timing tool. This guide covers one of the timings.
Bridge, Rental and Build
The short version, then the substance.
Key Takeaways
- The thesis
- Finding the lots
- Underwriting the build
The thesis. Established neighborhoods with empty or teardown lots already have the demand, the utilities, and the comps. Infill skips the pioneer risk of new corridors and builds where the buyers already are.
Finding the lots. Drive the target streets, pull the county parcels with no improvements, and chase the burned, condemned, and abandoned. Owners of problem lots are often relieved to sell. Code enforcement lists are an underrated deal source.
Underwriting the build. The finished comp is next door, which removes the biggest guess in construction. Watch lot quirks: easements, trees the city protects, drainage, and setback math on narrow parcels. The survey is the best money you will spend.
The South Texas angle. Averlend underwrites this every week in Corpus Christi and across Nueces County. If you are working a deal in downtown or anywhere else in the metro, the theory above comes with a local desk attached: see our Corpus Christi lending page or send the deal directly.
Questions
Quick answers from the Averlend desk.
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