Is Vacant Land a Valid Investment?
At first mention you may hear the words vacant land or vacant lot and think “Well that clearly won’t produce any income. It just sits there.” The truth is, that isn’t always the case. The beauty is in the simplicity.
There are no construction costs, the only concern that needs to be factored into the purchase is “Is this property suitable for building?” It needs to be a ready to build piece of land in order for it to be a quick turn over property when the time is right.
You can find some great deals on land that is not yet developed.
Many land owners have no emotional attachment to the property and in fact no idea what to do with it at all other than pay tax on it year after year. They want to sell and are motivated to give you a good price.
If you are having problems with bidding wars on popular properties and are just done with the haggle and the hassle, land investment may be a new avenue for you to try.
When you work with a proper real estate listing company such as HOWE Real Estate, you get a leg up looking for great deals. You can get in the game with very little start up capital and get your business up and running, or if you are already in business add nicely to round out your portfolio.
When working with agents you trust and become experienced the amazing thing is that you will get to a level where you will be able to buy and sell properties without ever setting foot on them in person.
The beauty of land is that it is a very inexpensive investment when looked at long term compared to any other piece of real estate. There is no mortgage, no utility payments, very low property insurance – usually liability only in case someone is injured on the property. It is a great place to put cash and watch it grow.
We all loved playing Monopoly as kids. Buying up sections of town, owning properties and developing them. We watched the money roll in. There is no reason adulthood can’t be just as much fun if we just allow it to be.
Land is a valuable asset.
The population is multiplying. Land mass is not. We cannot make any more land. Holding on to the right property, long term can net you a lot of money when the time comes to finally sell.
Choosing where to buy land can be tricky. That is why it is always advisable to work with agents who have experience in the area.
As far as vacant land in Louisville goes, our team at HOWE Real Estate has extensive listings available and intricate knowledge of the lay of the land. If you have any questions regarding this topic, please feel free to reach out to us. If you’re looking for property for sale in Louisville, let us help you get started on your search. We work with both buyers and sellers in and around Louisville. To contact us, send us an email or call 502-890-4475.