Land Investments differ in size, there are avid land investors who have millions of acres in their investment portfolio and there are also beginner investors who start with only quarter of an acre! The size of your first-time land investment will often be dependent on how much capital you have.
Budget is key and the primary factor in figuring out how much land you would like to purchase, you first need to figure out how much discretionary income you have to put towards the investment.
The second thing to consider after budget, is location. Depending on where you would like to make your investment, price per acre will fluctuate. Land in city centers can cost 10 times more than if investing in a property in a rural area. If you’re thinking about developing your property for a primary residence or weekend retreat, nothing else will compare to the privacy and peacefulness of the good ole country.
The third thing to consider are land improvements. If purchasing land solely for investment purposes, making any improvement on the land is not needed. If you plan to develop the land, clearing is something you will need. Granted, if you have a quarter acre lot that is not heavily wooded, you can probably just go ahead and clear it yourself with some machinery. For a property larger and land that is more heavily wooded, a land clearer is the way to go. They will properly clear your land, and walk the property with you to get an idea of how much of the brush and trees you would like to be cut down. Many wooded properties have good quality timber that you can sell, which adds value. A great example of a way to profit is through Palmetto berries in Florida. Palmetto bushes are well known in Florida, but something that most Floridan’s don’t know is that palmetto berries are used to treat prostate problems including cancer. Scientific research labs will pay heavily for the cultivation of palmetto berries, think twice about scrapping the palmetto bushes on your land!
At The Land Store, we work with many types of land investors. We will assist you in figuring out what exactly you would like to do with your land and determine the right property for your needs. We also offer owner financing; investing in land doesn’t have to burn a hole in your pocket!
Check out The Land Store’s Available Properties to get Started!