House paid off with lot beside me. What to do? (pay, sell)

[JC2018]

Hello, everyone! I own a house with a separate lot beside me. Everything is paid off. I have a little over $40,000 in student loan debt. Given the situation, what options do I have in order to put out a profit? Renting, developing. Etc. The property is in a neighborhood. Thanks in advance!

[davebarnes]

More data needed

[dontaskwhy]

Originally Posted by davebarnes

More data needed

Agreed ! I have no idea what the OP's question is.

[MrRational]

Originally Posted by JC2018

I own a house with a separate lot beside me. Everything is paid off.
...what options do I have in order to put out a profit?

Your options are limited only by your imagination.

The usual suspects:
1) FORCE this specific house into service as a rental.
2) Sell it all and put the net cash proceeds from that sale into a property (or three)
bought with the INTENTION of being used as a rental (price/condition/location/etc...)
3) Sell the lot to someone who knows how to build. Stay in the paid off house.
Use the sale cash and equity loan on the paid off house for a property (or three)
bought with the INTENTION of being used as a rental.


See a pattern here?

[redhotstoboiledpenuts]

Take from A and roll it over to B . Pay it off with C and ÷ 12 . Answers right there.

[MrJones17]

Have you considered renting a room out in your house? You could put that money toward your student loans. Great way to kill debt is to use other people's money.

[Retroit]

Plant marijuana on the lot and sell it for a profit.