1. Investment Purpose
The first step is to properly identify is the purpose of your investment. This is the most essential step, properties are zoned differently depending on the county. Many of our land investors have different reasons for investing, some purchase land for building their home, placing their mobile, building a weekend oasis or they simply want to make a safe and secure investment.
2. Location, Location, Location
Once you have identified the purpose of your initial investment, now it’s time to research where you would like to buy your land. If you plan on building your primary residence, you might want a property closer to the city and shopping areaa. Recreational activities are essential for those who wish to have a weekend getaway. Being close to beaches, rivers, hiking trails, and golf courses is optimal for weekend relaxation. People who seek out Florida land for beach vacation purposes or the Carolinas for their mountains are a prime example. For those who wish to make a sound and safe investment, it is ideal to thoroughly research properties in the path of growth. Reading up on possible development plans in a specific area can be very telling on what’s to come to the surrounding area of the property you’re interested in. News of a major factory or center breaking ground in a specific area can greatly multiple your initial investment amount.
3. Investment Capital
After finding the applicable location for your new property, now you have to configure the financial aspect of the investment. Depending on your use of the land, your investment capital can vary. Pricing is dependent on location and acreage; a quarter acre property close to the beach can be double the amount of the same sized property in a more rural area. If you have sufficient capital, investing with cash will be your best option. Since banks rarely approve loans for vacant land, finding a reliable company that offers in house financing is imperative.