With today's emphasis on investing in and flipping homes, one investment has become lost in the glitz of high-profile home flipping. H...
With today's emphasis on investing in and flipping homes, one investment has become lost in the glitz of high-profile home flipping. However, the land has always been one of the more secure forms of real estate investment, and if you're looking for a long-term asset, it's ideal. There are numerous ways to profit from your land purchase. Still, the majority of them involve proper zoning and selling to the right person or company.
Do some extra research into the zoning of the area before purchasing any parcel of land. First, determine whether it is zoned for residential, commercial, or both. Finding something zoned for both is a great find because it provides you with the most selling options. Also, try and find out if the property has any liens or easements; this information will be critical when selling. Finally, consider the land's location; is it in an area likely to be developed? How does it compare in terms of location and proximity to existing or proposed amenities?
Also, try to find out how the surrounding land has grown in value over the years. Suppose the area you're considering has seen a surge in development. In that case, there's a good chance that land will sell for a premium price as the project progresses. Try clearing your land yourself to make it more appealing to buyers (if possible). Developers value having all scrub and stumps removed because it saves them time and money in the long run. Prospecting on the value of land can be very profitable in the long run if done correctly. Land in the right location will fetch top dollar from development companies, so finish your homework and good luck!
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