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Benefits of Buying Land
It’s common to think land is boring, or perhaps that it can’t produce income. However, if purchased at the right time for the right price, investing in land can be a wise move. Let’s take a look at what some of the benefits of buying land are.
Yes, it just sits there. That’s exactly the point! You don’t need to know anything about fixing and renovating, or taking care of tenants if the land is vacant. Vacant land is also more affordable as it doesn’t have utilities bills, mortgage payments and the insurance is considerably less than if the land contains a building or home. In other words, it’s a hands-off investment.
The only question you need to really ask is, is it possible, to build on the lot? You may decide to do it yourself in the future or when you sell the land, chances are the buyer will want to build. In addition, land owners are statistically more motivated to sell and you’ll have less competition during a land purchase.
Land is also a great investment that can be made with your own money. It requires less capital so often times you can avoid using traditional means of lending (banks) which saves a lot of time and energy. The true aficionados learn to develop keen research skills and often buy and sell vacant land without ever even seeing the property. Do very little work while yielding a very large potential return on your investment. How’s that for a business model?
Finally, perhaps the most obvious but overlooked reason why land is a great investment is because, they aren’t making any more of it. This makes it an extremely valuable resource due to its limited quantity. If you have questions about land buying or selling or getting a start in your real estate investing career, contact us today!