Hello Elizabeth, thanks for posting. LandInvestors is a great place for you to start. It is an incredibly valuable tool for newcomers (and old-timers alike) to bounce ideas off other (like-minded) investors, ask questions, share concepts, etc. It’s a remarkably symbiotic community that everyone gets a lot out of. This forum-based site should be the first place you go with questions, and Jack, Jill, myself, and the rest of our staff are on there often helping in addition to our whole community. There is a wealth of free information about selling properties on the site. The Cash Flow from Land Program is also a place that fully covers selling your property. Feel free to email us if you have any questions.
Successfully subdividing your land into residential lots can have many benefits, including providing a landowner both increased profits and flexibility. If you are buying or already have a large parcel of land for sale, or even a home lot that has “extra” land area, you may wish to consider whether subdividing your land can help you maximize your real estate resources, something that many landowners are evaluating in the current market conditions.
Other options to consider are selling your land with owner financing which makes it easier for people to afford. Trying to find cash buyers can be difficult depending on your asking price and banks don't typically want to lend on vacant land. Also, if you have land you want to sell in a hurry and you'd like to get cash for it there are a number of wholesale land buyers that make be interested in making you a cash offer for your land.
Hello my name is John Morris from Switzerland but live in United Kingdom,am into property dealer business and also am into petrol pump business and and i want to invest in your country and i hop you can help me to establish my business in your country,and i want to build a gas station,hospital, hotel, school,shopping mall, and i need an empty land or 6 to acre of land to buy if you have any one to sell kindly contact me through my email: email@example.com
Undeveloped land without significant zoning limitations is open to a variety of uses. Reach out to all types of buyers who might find the land appealing. This may include home builders, private individuals looking for land to build on, park or camp developers and environmental groups that want to keep the land undeveloped. Reach out to the owners of adjacent land to see if they want to add to their property. Advertise in different publications and websites, not just in local real estate magazines targeted at people looking for new homes.
Particularly in popular neighborhoods and areas where undeveloped space is limited, purchasing existing property for the sole purpose of building a new structure on the land is fairly common. In many cases, developers and building companies will redevelop multiple properties in a neighborhood, knowing buyers will eat up new, bigger homes where midcentury ranch houses once stood.
Even though Craigslist is clearly the winner in terms of traffic, it's not necessarily the most versatile medium. There are plenty of restrictions in place (like the inability to link to third-party websites and embed videos), however with the tools that are available – it's more than enough to inform buyers about what the property has to offer and drum up enough interest to generate some legitimate leads and sales.
One of the most important first steps before subdividing your land or land you wish to buy is to make sure there are no restrictions that will block your plans. Everything from ordinances, neighborhood covenants to deed restrictions may prohibit – or fatally complicate – your plans. Review these items carefully, plus order a professional title review (typically through a real estate attorney) so that you can understand whether there are any deal killing issues that apply to the property and prevent subdividing.
Additionally, the land contract should indicate how many payments will be made, their due dates, grace periods (if applicable), fees for late payments, and how the buyer should deliver each payment. Under a land contract, buyers are usually treated just like a property owner, and will be responsible for paying property taxes, insurance, and any utility bills associated with the land use.
Great article. This is actually the first time I am learning about all of this. I bought my first property (that I currently live in) in 2012 and I am interested in investing in more property and generating passive income. My question is, once the property is purchased how do you ensure that it sells? I’m assuming that the only way to generate income from vacant land is for someone to build property on your land. If there is no interest in that land it could possibly turn into a loss.
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You will need to advertise an email address and phone number for people to contact you so you can field additional questions about the property. Most often, people will want to know if the property is free and clear of any liens or encumbrances including back taxes. They will want to know if there are any other closing costs, Home Owner Association Fees and other details regarding the property. Always be direct when dealing with your customers. If you don't know the answer simply say you don't know and that you'll find out or direct them to the appropriate resource. Typically a surveyor or the local county can help them with what they are looking for.
I’ve taken this route plenty of times, but I was always making my decision from the perspective of an investor (to buy and re-sell the property quickly)… not necessarily as the end-user (i.e. – buying a property that I would actually live on), so if there are some specifics that YOU would want to see, then it may be worth your while to get over here are see it.
In most cases, rural land owners should enlist the help of a professional land agent in selling their properties. Unless they have a lot of experience or it is a slam-dunk deal, the seller will benefit from having an agent on their team. In fact, most serious land investors have at least one agent that they go to for finding deals or making sales. Take a cue from sophisticated land investors and enlist the help of a true land sales professional to market and sell your rural land. You will be glad you did.
Amazing and brilliant ideas and really thanks for sharing them, I will join a new property management company next month as sales manager and they have around 790 units for sale from villas to an Appartments and this field is so new to me and I know it will be a big challenge since the market is down and economic situation is not that much good, your ideas helps me a lot and would appreciate if you or any other would share another smart ideas of how to reach buyers and how to manage my team in my first month so I will take the lead
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Even if you’ve confirmed that there are no restrictions that forbid subdividing the land (or make it unfeasible), you and your experts also should research the local zoning, subdivision and development laws so that you can understand the layout and size limitations for your planned lots. Each county, city or other authority will have its own regulations that describe important items like current zoning requirements, minimum lot widths, setbacks (front, rear and side), buffers, building heights, required open space and other significant details that affect the size and layout of your lots.
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If the neighbor isn’t interested, the next best option is to go to your buyer’s list. “What I like to do every single day,” said Mark, “is [to] do something to create some value or educate people on the benefits of owning raw land.” Then, he will end the content with a call-to-action. Two example of calls-to-action would be, “If you want to learn more, just opt-in here” or “Get $250 off your first land purchase.”
Hi Dave, thanks for stopping by. You’re right – it’s very hard for me to give you any concrete opinion on this (because there are a lot of factors to weigh with any piece of vacant land). I’d say if you’ve looked at all the potential downsides and established that there won’t be any issues from that end… and if you’ve got a fairly decent idea as to what the property is currently worth (and you’re buying it for a price that is significantly BELOW that number), then sure – there probably is a fair chance that you can make money on it.
You’ll want as much money as you can make as quickly as you can get it – but developers play a longer and broader game. Land you sell may become one small part of their land bank in your locality and, if you’ve signed the wrong deal, you may find they never get planning permission for your land because they choose to promote one of their other local sites which looks an easier consent to win.