Since you are not talking about a boom town close to national parks, scenic beautyr, oil fields or gold mines - I'd think of better uses for your money. One acre of Manhattan is worth a thousand acres in Arkansas
Ok its a big piece of land, A section is 640 Acres. What are the pluses of the property? Wildlife for hunting, Good soil for crops, Ponds? Nice views? Timber? Are there any mineral rights available? We need a lot more information to guess at its value. BTW is it $7000 for it all or per acre?
No, it's not a good idea.
If it's a tiny town - everyone who lives there already has a place to live.
If it a horrid town - no one wants to move there.
Ask dad if he has any "other" ideas. This one sucks.
My dad found a section of land for sale, priced at $7000. It's located in a tiny town out in the country & the little town is horrid. It's very old & beat up. It does have access to water & light so that's a good thing I suppose but it doesn't have a sewage system so we would need to get one installed. My dad plans to buy a mobile home & install it here & fix it all nice & sell it to make profit. Since he doesn't have the money, he wants me to help out with money. Is this a smart idea? Do you think we could make profit from it? Any advice helps!