The Benefits of Flipping Your House for Land Part 2
Selling your home can be a stressful experience, especially when your decision is motivated by an urgent need for money. Perhaps your career has flatlined or maybe your past investments have been less than profitable, regardless of the specifics, your home is always an effective bargaining chip when you need a quick bailout, but you want to set yourself up for the future, too.
In part one, we discussed how flipping your house for land can free you of your obligations as a homeowner and allow you to reinvest your money with very little micromanagement. Now, we will continue to examine the benefits of purchasing vacant land.
Landowners are Motivated to Sell
When we buy homes for cash in Sumter County, FL, our sellers are often looking to invest their money in something that can help them achieve sustained financial success in the future. Fortunately, vacant landowners are usually eager to sell their land.
Vacant landowners are absentee owners. They haven’t formed an emotional connection with the land like they would a house, and in many cases, they have stopped actively advertising their land for sale. Therefore, when they are propositioned about their land, they are likely to settle on a very affordable price. Many landowners don’t even live near their land, so they become apathetic and careless about ownership, which can lead to a remarkable deal.
Unlike the housing market, which is extremely competitive, the vacant land market is comparably less daunting. Real estate investors are focused on purchasing homes, apartments, and commercial buildings because these types of property are recognized as potentially profitable. Competition between investors can become fierce as they outbid each other for control of properties that are perceived as valuable. When you purchase vacant land, you will rarely be outbid.
Keep Calm and Remain Autonomous
Smart land investments require minimal interactions with banks and mortgage companies. Purchasing land with cash is simple, so after you sell your home for cash, consider turning that cash into land. Once you have gained some experience buying and selling land, you will be able to generate a profit without even visiting new acquisitions in person. Vacant land doesn’t have any structures, so there is very little need for direct inspections.
Inexpensive Investments for the Short-Term or the Long-Term
If you purchase a piece of land for a desirable price, you won’t have to make any mortgage payments and your property taxes will be inexpensive. Plus, you won’t incur any additional utility bills and the cost of property insurance, if you opt in, is negligible. When you consider the lack of financial productivity taking place in your savings account, a land investment is a comparably more lucrative vessel for holding your wealth.
Disclaimer: This website is not a substitute for legal advice. If you have a serious legal, tax, or other issue requiring professional advice, please consult with an attorney or CPA.