My Worst RE Investment

So far, the worst RE investment I made is a vacant lot. In a small town, where there are nobody to build new houses.

The lot has sit empty there for two years now. No income, just a bunch of trees, yet I have to pay property tax on it every year.

If I use the same amount of money as downpayment, I could have bought one and a half one bedroom apartments. A one bedroom apartment is currently renting at $1,100/month in town.

I bought this because my PM back then wanted to do some joint venture with me, he figured if we put some premanufactured houses on the lots, there would be some profits to be made. Well there weren't, and it did not work. I could have backed out from purchasing the lot, but that would put him in a hard financial situation, so I bought out of compathy. It turned out to be my worst investment.