While most people would agree that ‘they are not making anymore land’, there are even more people who think that investing in vacant land is a terrible idea that is simply a complete waste of money. The arguments to support this are very strong as well:
- Vacant land doesn’t produce income
- The land will just sit and nothing will happen on it
- It just seems to be a flat out boring investment
While you may agree with this, you would also be greatly mistaken. Fact of the matter is, vacant land is one of the best investments that you can make and has the potential to produce some major money for you due to its versatility and ‘hands-off’ nature. Below is a list of some of the reasons why you need to be investing in land as soon as you can.
Top Reasons You Should be Investing in Land
- You Don’t Have to do Anything
When you own land, you literally don’t have to do anything to the property. This means that you can forget about any type of renovations or construction. On top of that, there is no knowledge required on the steps to rehabbing your land. In fact, the only thing that you do need to ask yourself is whether or not the land is suitable for having a building. If you have land that somebody else is able to build on eventually, you are already winning the war.
- It’s Literally the Best ‘Hands-Off’ Type of Investment
When you think about it, it makes sense. You don’t have to deal with any types of tenants, mold, yard care, broken furnaces, leaking roofs, bugs, toilets, or any of the many issues that pop up every single day when you own buildings. Vacant land actually doesn’t involve anything like that. How it works is you buy, it sits and behaves, and absolutely nothing happens.
- Vacant Lands Owners are Normally Very Motivated to Sell
This all comes down to the ‘out of sight, out of mind’ mentality. Most vacant landowners are considered to be absentee owners. They normally live nowhere near the land is, and definitely don’t live on it. This is all good news for you as it means there is not type of emotional connection with it. In fact, normally you will discover that you can get the land for a much more affordable price because it doesn’t earn an income for them (they don’t know what they are doing by owning it), and they live nowhere near it. This is just great news for you because it means that you are able to potentially get that much better of a deal.
- There is Almost NO Competition
If you were to try to buy a house to flip at auction, chances are that the competition would be very stiff and drive up the price of the home. This would then mean that the amount of profit you would make would be less. Anybody who invests would be able to tell you that this is bad. This is another reason that investing in land is such a great idea.
While most people have their minds made up on investing into apartments, homes and what not, you will be able to get that much better of a deal on some prime vacant land. This is something that can seriously play to your benefit.
- When You Own Land, You Call the Shots
When it is done correctly, investing in land can be done with completely avoiding any types of bank or mortgage company. This means that you will own the land outright and not be liable to anyone other than yourself. In other words, you will be calling all of the shots.
- They Stopped Making Anymore of it
Land is one of those rare things that nobody is making any more of. This means that it is one of the most valuable resources available, and that it has a limited quantity available. While any other investment you make is going to make sense to you, land should too. When you have the mindset of holding onto a property for long-term, it is definitely one of the best investments that you can make.
While there are many different investment opportunities available for you to make today, one of the most little known is going to be vacant land. While there is always a risk in any type of investing, investing in land is by far the safest. Just remember to do your due diligence and be sure to speak with a reputable land broker to answer any questions you may have and you will surely be setting yourself up for future success.