Anyone out there have experience in buying land? Good idea for investing your money or a waste of time? I'm talking buying up any cheap land and just sitting on it. Also what about buying commercial strip malls etc. Just very curious.
>>1176242
How long do you plan on just sitting on your land? Sooner or later you're bound to get hungry
My father was a land investor for 35 years.
Start with homes. It's a fucking hell of a lot simpler. Once you get good with homes, you graduate to land.
Some tips:
> buy in a dip, not a peak
> buy in a growing area
> look at the home prices in the neighborhood, and surrounding area. You never wanna be the cheapest or richest house in the neighborhood
> There's always hidden expenses, so factor that in when you buy
good luck amigo
thanks anon, are you talking buy and seek quickly for profit or sit on them until the value rises? Seems like houses wouldn't be good long term considering depreciation. Or are you talking about renting them out?
Land banking is very long term and speculative. I don't advise it.
I Work in cre
Just keep in mind land takes much lot longer to sell than normal homes. You also have to keep paying the taxes on it (they are fairly low, but still).
I have a parcel that has been listed for 6 months and has not sold yet (FSBO).
what about owning rental properties? Anyone?
>>1176322
Houses are something you do quickly. Once you know the game you can move 5 - 20 houses a year by yourself, maybe even more.
Land is more long term. Usually you buy a piece of land and hope to sell it within 5 - 10 years. if you buy right the profits are huge.
My dad got one piece of land for $4 million and 5 years later sold it for $16 million.
>>1176379
huge liabilities. deadbeat tenants, needy tenants, major repairs, minor expensive repairs, taxes, insurance, local market collapses. lots of people over extend themselves and go bust. some people just get a bad tenant that destroys the entire place and lose everything. the management can be a part-time job.
>>1176422
Hire a management company, less headache but you will most likely not see profit until the building is paid off.
If you're going to buy land I'd say you should apply for a tree planting fund from the local forestry commission.
Check out 'the land geek' on YouTube, he does a lot of good videos. But I'd say do not go the speculative route.
Personally I'm most familiar with residential real estate and would recommend it.
>>1176511
>le jew geek
>>1176579
name me one not riddled with accounting fraud and fbi investigations.
>>1176400
Moving 20 a year? flipping them? Do you do the rehabs yourself? How much capital do you start with?
personally, i'd buy any land or property that i would wanna live in, or do business in.. I wouldnt buy shitty condo unit or apartment just because its cheap, and would want to rent it out
