Creative Ways to Buy Land
The real estate market value is over $228 trillion, according to research by Savills. The industry employs billions and supports millions of rising investors. It’s one of the leading industries globally, with thousands of lucrative opportunities.
It accommodates established investors and startups alike, thanks to the hundreds of rewarding, beginner-friendly opportunities. Considering the tough industry competition, you’ve to be creative and innovative to be a winner. These ingenious hacks will see you earn high returns and impressive profit margins investing in land.
1. House Flipping
One land investment approach with insane profits is flipping. You buy an old home, creatively renovate it and then sell the property later. 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 the home and placing the sale ads. Then, watch as 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. 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 on foreclosure auctions and tax sales. Earn more from land flipping by rezoning, subdividing, or clearing the land ready for development. There are also smaller vacant lots that you can buy to invest in. Don’t judge a property’s value only by size.
3. Lease Your Land
If you’ve large plots of unused land, you can lease it to earn passive income. Leasing comes with outstanding tax and income benefits. You’re getting paid for the land while the occupant maintains and develops it. You’re as well exempted from paying taxes since it becomes the leaseholder’s responsibility. When the lease period is over, you’ll be left with developed land. This approach only works for those with bigger portions of land.
4. Develop Your Land
If you have the finances, erect a high-end condo, rental home, or commercial property. It would take time, depending on the developers on board, but it’s worth it. Once the property is complete, you can lease it on a short or long-term basis. Those looking for quick money can as well sell the completed project. If the land is based on a local area, don’t go this way. You’ll 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.
5. Livestock Keeping and Farming
Farming stands top among the most lucrative ways to use raw land. The demand for livestock and crop yields has never deteriorated. People need those fruits, vegetables, meat, and any other produce obtained from farming. Therefore, if you turn your land into a farm, you could reap big over time. But, first, research your local market to know which farm produce yields more profits. Only settle for crops or livestock that offer real profits. Are you thinking of land investing? These smart tricks 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 to receive a quick cash offer for your property. We buy land throughout the United States.