The One Mistake Everyone Makes When Investing In Real Estate.
October 10, 2017 by Staff
Filed under Money/Business, Weekly Columns
(Akiit.com) There’s countless evidence to support the claim that real estate investments can make a lot of money in both the short and long term. Whenever this topic is spoken about, everyone asks about what types of property they should invest in. Should they go for residential homes or commercial properties, what about flats, caravans, holiday homes??
Immediately, one mistake has been made. Instead of asking what real estate investments they should make, they start talking about properties. Right off the bat, you’ve completely excluded another viable real estate investment; land. This is an error you find the majority of people make when they go to invest in real estate. They’ve completely cut off a huge section of the real estate market by only looking at properties.
Consequently, many people have no idea that land is a viable investment option. In fact, they don’t even know the different types of land investments you can make.If you’ve made the mistake of neglecting land as an option, then use this article to educate yourself and see what kind of investments you can make.
Completely Undeveloped Land
This type of land is often known as vacant land as there is nothing currently on it or being done to it. You can find this pretty much anywhere throughout the country and represents a great investment opportunity. Big open stretches of land in fields or mountains are best examples of this. Here, you could buy mountain land and then use it to build and develop properties for people to purchase. You can do the same with field land, or you could also use your land for other purposes. Naturally, you have the opportunity to sit on your land and sell it if its price increases over time.
Semi-Developed Land
This is another type of land that technically falls into the vacant category as no-one is really using it when you buy it. The difference is that developments may have been made in the past, so it’s not entirely empty. This land investment is good for someone that spots potential in redevelopments. You can take what’s already on the land, and turn it into something that makes a lot of money. It’s common you find land like this in residential areas where projects were planned and then scrapped halfway through development.
Working Land
Finally, you have land that’s being used for work – such as farmland or ranches. If someone is selling their farmland, you can inherit it along with the farm. This gives you an opportunity to enjoy making money through the farm. In some cases, working land isn’t owned by whatever farm or ranch is located there. It was once vacant land that got bought, and a farm was developed on there. In which case, if you buy the land for sale, you will have control over a farm without having to actually get your hands dirty.
The whole point of this piece was to identify the one mistake everyone makes when investing in real estate; they forget about land. Now, you know to avoid making this mistake, and can see the different land investment opportunities at your disposal.
Staff Writer; Jerry Wall