So I wanted to seek some advice for a friend. Said friend bought, in 2007, a 100-acre parcel in the inland empire of LA (riverside). 10 of those acres are develop-able, the rest is part of an ecological area. It has 2 pads for development. It was bought for 400k but as of now may not be worth six figures.
It has some good views, but it's not the most fertile place. Especially with the drought, its utility for anything is starting to be questionable.
Could anyone with knowledge of land use and depreciation give some advice on what to do with this? Develop and rent it? Hold onto it? Cut and run? Theyre not desperate for cash but at the same time have no interest in the land.
