How to Sell Land: 5 Creative Ways
The real estate market value is over $228 trillion, according to research by Savills. The industry employs billions every year and supports millions of rising investors. It’s one of the leading industries globally, with thousands of lucrative opportunities.
Thanks to the hundreds of rewarding, beginner-friendly opportunities for real estate investment, the market can be crowded and competition can be tough. Therefore, you have to be creative and innovative to be a winner. If you want to invest in land, you need to be smart (and creative) about it to turn a high profit.
Keep reading to learn how to sell land with these five creative ideas.
1. House Flipping
One land investment approach with insane profits is flipping properties. This means buying an old home, creatively renovating it, and then selling the property later for a higher resale price. Land flippers experience vast challenges, including budget increases, timeline issues, and delayed sales.
However, intelligent flippers earn millions doing what they love in a matter of weeks. Just be creative while renovating a home and placing the sale ads. Then, watch as you grow your investment portfolio grows and more earnings trickle in.
2. Land Flipping
Land flipping only differs from house flipping in that you trade raw land. The most creative way to flip land is to invest in growing towns or cities. This means you buy a large portion of land and allow it to rest for a while. As the town or city grows, your land grows in value, as well.
You can find incredible land deals at foreclosure auctions and tax sales. To earn more from land flipping, make sure you rezone, subdivide, and/or clear the land ready for development before selling. There are also smaller vacant lots that you can buy to invest in. Remember, don’t judge a property’s value only by its size! Location is very important, too.
3. Lease Land
If you have large plots of unused land, you can lease it to earn passive income. This means you get paid for the land while the occupant maintains and develops it. Leasing land also comes with outstanding tax and income benefits. You’re exempted from paying taxes since it becomes the leaseholder’s responsibility. When the lease period is over, you’ll be left with developed land.
However, it’s important to remember that this approach only works for those with bigger portions of land.
4. Develop Land
If you have the finances, erect a high-end condo, rental home, or commercial property (like a newly renovated restaurant). This takes time, depending on the developers on board, but it’s worth it long term. Once the property is complete, you can lease it on a short or long-term basis.
Those looking for quick money can sell the completed project instead of leasing it. But, if the land is based on a local area, this may not be as beneficial. You can lose millions erecting a high-end structure, only to spend years recovering your investment. Professional homebuyers that have years of experience should stick to bigger projects like this, rather than new investors.
5. Keep Livestock & Develop Farms
Farming stands top among the most lucrative ways to use raw land. The demand for livestock and crop yields has never deteriorated in the US. People always need fruits, vegetables, meat, and any other produce obtained from farming.
Therefore, if you turn your land into a farm, you could reap big rewards and profits over time. But, first, research your local market to know which farm produce yields more profits, and only settle for crops or livestock that offer real profits.
Are you thinking about land investing? These smart ways how to sell land can earn you short-term and long-term profits. You only need to be innovative and execute them creatively. Consult with your local realtor to know what works for you.
Are you thinking about selling vacant land? Give us a call today at (215) 769-9875 to receive a quick cash offer for your property. We buy land throughout the United States.