Buying raw land
- Thread starter Ben89
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after you factor in interest and taxes... unless you're living in it or renting it out - property can be a tough go.
My family has some raw land. Taxes will eat you up, stick some goats on it and get Ag exemption. Or grow crops.. thats the only way. Between taxes inflation, and upkeep on the land you'll lose unless you hit a bingo and some huge developer wants to put a super mega mall on your land or the state wants to run an Interstate through your property.
Next try and buy the mineral rights ... not sure about Florida but in several states they are digging for natural gas and those land owners are kicking themselves for not getting the mineral rights.
Next try and buy the mineral rights ... not sure about Florida but in several states they are digging for natural gas and those land owners are kicking themselves for not getting the mineral rights.
If you're going to buy land, buy land that you like enough that you would develop personally. Make sure you have a local real estate agent that you trust give you his/her opinion.
For damn sure don't buy land that doesn't have relatively easy access. Does you no good to buy land that has no contractually-protected road access.
Get an estimate to see how much it'd cost to bring utilities in. If it's high, it'll be high for whoever might eventually buy it, which brings down the value.
County planning documents are gold. See which way the development's going and try to take advantage of it.
For damn sure don't buy land that doesn't have relatively easy access. Does you no good to buy land that has no contractually-protected road access.
Get an estimate to see how much it'd cost to bring utilities in. If it's high, it'll be high for whoever might eventually buy it, which brings down the value.
County planning documents are gold. See which way the development's going and try to take advantage of it.
I have a friend who purchased a chunk back in 2006 in Florida with similar intentions- three or four acres? It's worth $30k less now than what he paid. Granted the market is crap now, but in the event of something catastrophic where he has to liquidate, he's up a creek without a paddle.
On the other hand, a friend from college's dad owned a few thousand acres of old growth forest a few hours from his farm and he'd regularly let loggers come in and take mature trees out every year or two for a large profit.
Situations vary. If you had cash on hand right now to buy land- I'd vote for something with mineral rights of any kind. You can get land in WV/ Western PA pretty cheaply that has it's own natural gas conserves. Whether spun as free heat (once gas climbs back to $5/gal) or energy for those survival types it seems like a marketable opportunity.
On the other hand, a friend from college's dad owned a few thousand acres of old growth forest a few hours from his farm and he'd regularly let loggers come in and take mature trees out every year or two for a large profit.
Situations vary. If you had cash on hand right now to buy land- I'd vote for something with mineral rights of any kind. You can get land in WV/ Western PA pretty cheaply that has it's own natural gas conserves. Whether spun as free heat (once gas climbs back to $5/gal) or energy for those survival types it seems like a marketable opportunity.
Yep... if there is timber, you can make some money. A relative of mine owned a few hundred acres and whenever she wanted a new car, she would pick it out and get a price from the dealer. Then she would tell the logging company they could cut that much ( price of the car). Mineral rights are good too, especially near the Gulf. Sometimes the checks from the oil and gas drilling can help pay the property taxes. But... property tax is low here in Alabama.
Check the taxes on the land and check the zoning. If it is farming, write it off as a farm. Sometimes the government will even pay you not to plant certain crops. You could pay off your land that way.
Check the taxes on the land and check the zoning. If it is farming, write it off as a farm. Sometimes the government will even pay you not to plant certain crops. You could pay off your land that way.
. Makes me feel why I run after a few dollars online - but than see the aspiring articles of successful Internet marketers making millions per month.
Depends where you buy your land, some states in the US only have real estate tax and no land value taxation.
And who says you have to buy land in the US? You could buy in foreign countries. In my country there is no LVT whatsoever.
And who says you have to buy land in the US? You could buy in foreign countries. In my country there is no LVT whatsoever.
Maybe, but not on a whim. There's a lot easier & safer real estate investments. I have some undeveloped property in florida by inheritance, it functions more as a liability than asset cuz there's no benefit, only expense. Only thing to do is wait n years and sell for capital gain or less of a family capital loss.
Other than that:
1. Location.
2. Taxes
3. Insider Knowledge. (New community? new tax breaks? Mineral reserves? etc.)
Other than that:
1. Location.
2. Taxes
3. Insider Knowledge. (New community? new tax breaks? Mineral reserves? etc.)
Honestly , if you have to ask on a forum if you should buy it, you shouldn't be buying it.
Real estate is serious business ,and in many cases, people do swindle others when buying raw land.
Why not just buy a few managed rental properties?
Real estate is serious business ,and in many cases, people do swindle others when buying raw land.
Why not just buy a few managed rental properties?
Raw land that can be rented for farming, a parking lot, logging etc can be a good investment. The recent ruling by the Supreme Court on eminent domain makes the investment risky though. With the downturn in the economy you don't hear to much about cities taking poperty. But you sure can bet that when the economy starts getting better, cities will start where they left off.
Let me tell you something.
Year 2004 bought 5000m2 raw land for 15000$. Now it's 500000$ worth
Do you want to learn where i bought this land? Paypal me 5000$ and i will let you know
To use your money in 2nd, 3rd world countries will be a wise decision buddy
Year 2004 bought 5000m2 raw land for 15000$. Now it's 500000$ worth
Do you want to learn where i bought this land? Paypal me 5000$ and i will let you know
To use your money in 2nd, 3rd world countries will be a wise decision buddy
if this is a place where they are likely to want to put a CVS or Walgreens then fuck yes buy it! they are the top 2 paying companies for land. they both offered a friend of mine a crazy shit ton of money. he turned them down though. haha, hes a rich fuck though so its cool.
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