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Jul 12, 2024 · Buying vacant land can be a tremendous investment opportunity to generate steady income or save for retirement. Depending on where you live, there are many ways to utilize this land, from operating it as a rental property to using it for commercial purposes.
Purchasing vacant land may not be the right strategy for every investor. Here are the pros and cons—and key questions to ask.
- With Vacant Land, You Don’T Need to Do Anything to The property.
- Raw Land Is A “Hands-Off” Investment.
- Statistically, Vacant Land Owners Are Highly Motivated to Sell.
- Land Investors Have Far Less Competition to Deal With.
- Land Investors Call Their Shots.
- Add Seller Financing to The Mix and Explode Your Income Potential.
- Land Is Very Inexpensive to Own as A Long-Term Investment.
- Land Gives Its Owner Peace of Mind.
- They Aren't Making Any More of it.
Forget construction! Forget renovations! You don't need to be an expert or know anything about how to rehab a property yourself. In most cases, you only need to know one thing: “Is the property suitable for what I want to use it for?” As long as someone else can use the land for its highest and best use, a huge part of the battle is already won.
Have you had enough of dealing with problem tenants? How about toilets, bugs, mold, lawn care, leaking roofs, burst pipes, broken furnaces, and the hundreds of other issues with owning buildings? Vacant land doesn't involve anyof those things. Once you buy it… it sits there, it behaves itself, and nothing happens.
Why? Because vacant landowners (by default) are always absentee owners. When a person doesn't live inside (or even near) the property they're trying to sell; there's less of an “emotional connection” because it isn't their primary residence. In many cases, you'll find that these sellersare willing to sell their land for pennies on the dollar—simply...
Are you tired of dealing with such stiff competition on every property you try to buy? Are you sick of getting outbid on every good deal you're lucky enough to find? Well, guess what… there is very little competition in the world of raw land investing. Most real estate investors have their minds set on things like houses, apartments, and commercial...
When you buy vacant land the right way, it's easy to buy each property with your own cash and avoid dealing with banks and mortgage companies altogether. When I started as a land investor, I had $3,000 to my name. And to this day, I have never had to borrow money from a bank.Ever. When you know where to look for great deals on land, it requires min...
When you combine vacant land with the power of seller financing, it's a match made in heaven. It can open the doors to finding MANY more buyers because most banks are hesitant to lend money on vacant land. Due to the scarcity of “easy money” financing for vacant land properties, land investors can use this to their advantage by charging a higher-th...
When you buy a piece of land for the right price, there are no mortgage payments, no utility bills to pay, the cost of property insurance is nominal (if you have it at all), and property taxes are incredibly cheap. If you want to park your cash somewhere and forget about it, vacant land could be the investment vehicle you're looking for.
Think about it: land is a long-term, tangible asset that doesn't wear out and doesn't depreciate. Nothing can get broken, stolen, or destroyed. Put all of these benefits together with your ability to buy it for next-to-nothing price… and can you think of a better combination?
Most people don't think of vacant land this way, but the reality is that land is a precious resource with limited quantities. Especially when you purchase land in the path of growth, you will find yourself with a finite asset that many other people want to get their hands on. Stocks, bonds, mutual funds, and 401Ks all make sense in certain scenario...
- Zoning. First and foremost, it's important to understand what a vacant lot can be used for and what its highest and best use is. With a simple phone call to your local planning & zoning department, most offices can give you a high-level answer to this question pretty quickly.
- Topography. The property's topography is one of the first things I look at when evaluating a vacant lot. Many places have irregular elevations, cliffs, mountains, valleys, and ravines.
- Property Taxes. If you intend to hold onto a property for any length of time, beware of a super high tax bill relative to the property's actual value.
- Public Utilities. If a property doesn't have access to one or more of these common public utilities (water, sewer, electric, gas, phone), the property may not be an ideal candidate for building a dwelling.
Aug 3, 2022 · Buying vacant land may be an excellent option for those looking for an alternative to residential investments or someone looking to get into real estate developments. The three types of vacant land in Ontario
Feb 16, 2021 · Cons to investing in vacant land. 1. More difficult to finance. It’s more challenging to find traditional financing for purchasing vacant land. So if you build, but the property doesn’t sell right away, your money is tied up in the deal while you wait. In that situation, it would be a long-term, illiquid investment.
Apr 29, 2022 · Why Buying Vacant Land Can Be an Incredible Real Estate Investment. By Nell McPherson – Apr 29, 2022 at 8:30AM. Key Points. The right plot of vacant land can hold nearly limitless potential. A...
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