Purchase Vacant Land

By: Lance Dorman
Now is a great time for investors to purchase vacant land, especially in developing areas, and hang onto the parcels for a period of time. Real estate prices have come down, so now is a great time to get some bargains. If investors are able to identify areas where growth and development will occur over time, a minimal investment now will pay major dividends later when the demand for the land in the growing area significantly increases.

There are different classifications of land. These include residential single family (R1), Multi-family (R 2, 3, 4 ...) duplex, 4-plex, rental apartment complexes, commercial, industrial, heavy industrial, agricultural, forest, open use, rural, conservation, mixed use, vacant land, and raw land.

An investor is always looking for a bargain.

Since prices have come down for real estate nationwide over the past few years, now is a great time to find those bargains. Many investors buy raw and unimproved land where there are no or a very few utilities available and the land parcels are only accessible by dirt roads. That's true now, but in a few years those plots of land will be worth far as developments begin in those areas. Not long ago, Orange County, CA, was made up of only a few orange orchards. Nowadays, houses in Irvine start at over $700,000. You can see why small and big investors are going for vacant land investments. It just makes sense. Growth is the primary factor that drives all this. More growth means the need for more of a labor force, more need for services and infrastructure, and of course more demand to build buildings, shopping centers, schools, hospitals, and airports. And the price of land goes up in the entire surrounding area. Investors come to us because we study development patterns, and we know where the deals are today that will be worth a lot tomorrow.

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