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Create A BlogInvesting in Land |
Apr. 17, 2009
Much has been written and talked about in the past years about the severe downturn in the real estate markets all across the country, and indeed, most of the world. So, why then could anyone expect to make any money in real estate? The answer to that question depends on who you ask and what they are looking for in an investment.
For many years people have been quietly making a nice living off of real estate investments. These are not the "get rich flipping houses" types. Most of these folks are not rich. They do not live lavish lifestyles. Most of them started out small and gradually expanded their real estate holdings to the point where they now have a very nice supplemental income, or have paid for college educations for children and/or grandchildren, or have been able to retire early and enjoy the life they always dreamed of.
And, most of these people that I've personally worked with have done this through investing in land. As Mark Twain said, "they aren't making any more of it."
For many years people have been quietly making a nice living off of real estate investments. These are not the "get rich flipping houses" types. Most of these folks are not rich. They do not live lavish lifestyles. Most of them started out small and gradually expanded their real estate holdings to the point where they now have a very nice supplemental income, or have paid for college educations for children and/or grandchildren, or have been able to retire early and enjoy the life they always dreamed of.
And, most of these people that I've personally worked with have done this through investing in land. As Mark Twain said, "they aren't making any more of it."
Probably the most inexpensive way to become a real estate investor is to buy a residential lot in or near a growing community. Prices will vary greatly from location to location and often depend on such things a availability of utilities and proximity to shopping etc.
This is where your local real estate professional comes in. They will be able to tell you how close to the lot the electricity and phone are and whether you'll need a septic system or can connect to a sewer. Also, if the area is in a more rural location, you might have to drill a water well.
A real estate professional will also be able to point you in the right direction when it comes to building permits, property taxes, local property associations, deed restrictions and a host of other items to be considered prior to making an offer to purchase a property.
Once you've bought and sold a couple of lots you will probably want to move up to larger acreage properties.
One of the easiest methods of producing wealth through real estate is simply to buy a property that is divideable and then divide and resell it. That's not as difficult as it sounds and in most cases your real estate professional will walk you through the whole process.
You can maximize your profits if you decide to carry the note for your buyers. This enables you to receive interest on top of the price you sold the property for. Just make sure you receive a large enough downpayment to cover your expenses associated with the sale.
This is where your local real estate professional comes in. They will be able to tell you how close to the lot the electricity and phone are and whether you'll need a septic system or can connect to a sewer. Also, if the area is in a more rural location, you might have to drill a water well.
A real estate professional will also be able to point you in the right direction when it comes to building permits, property taxes, local property associations, deed restrictions and a host of other items to be considered prior to making an offer to purchase a property.
Once you've bought and sold a couple of lots you will probably want to move up to larger acreage properties.
One of the easiest methods of producing wealth through real estate is simply to buy a property that is divideable and then divide and resell it. That's not as difficult as it sounds and in most cases your real estate professional will walk you through the whole process.
You can maximize your profits if you decide to carry the note for your buyers. This enables you to receive interest on top of the price you sold the property for. Just make sure you receive a large enough downpayment to cover your expenses associated with the sale.
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