“Buy on the fringe and wait. Buy land near a growing city! Buy real estate when other people want to sell. Hold what you buy!” -John Jacob Astor
Investing in raw land need not be complicated once you get a solid understanding of the niche as an investment. By being creative, there are a number of ways to make money investing in raw land. First, you can make improvements on raw land. Just like with flipping a house, you wouldn’t buy a house and then immediately the next day put that same exact house on the market for $30,000 more. You would improve it. You would install granite countertops, stainless steel appliances, or better fixtures in the bathrooms. You might update the cabinetry, and improve the landscaping of the house. Some improvements can be very expensive. Some can be very inexpensive. A paint job can really improve a home and cost only a few hundred dollars.
Well, the same principles apply to improving land and there’s many different, inexpensive ways that you can improve your property to vastly increase its value without you having to do a whole lot of work yourself and spending a whole lot of money.
One of my favorite improvements to improve raw land is to hire a surveyor. A surveyor will stake the corners of the property. This way, when a potential buyer goes out to that property, it has already been staked. They can easily find the corners and it just gives them that much more confidence in that property. Undeveloped raw land that hasn’t been staked or surveyed, is tough to find and your buyer has to go out there with a GPS unit. This can frustrate your buyer and make them lose confidence in their investment.
Another strategy for improving the property is going to just be simple, easy financing. If you’d like to learn more visit www.ArtOfTheLandFlip.com
