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Investing In Land Can Prove To Be Very Rewarding

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Education & Training with Coaching By Peter-Real Estate Investment Coach

When you are investing in land there are several things you can do to help you avoid mistakes.  You need some knowledge and skills when you invest in land and this is definitely not a job for an amateur.

When you are thinking about investing in land if you do not know much about this type of profession, you will want to get your knowledge in order.  You need to gain as much knowledge as you can before you begin your investing journey.  You can do this by doing some research on the internet.  This is a good place to start and you can read websites or even eBooks to help you understand what investing entails.

If you feel as though you need more lessons about investing in land, you should check out your local community college and see what they have to offer.  You may be able to take a couple of courses and obtain all of the knowledge you need.  You will want to talk to the counselor at the college to help you decide what type of education will work best for your needs. 

After you feel comfortable with the knowledge you have acquired about investing in land, you will want to check with your local city to see what type of licensing requirements are needed to do this type of business.  You will want to complete all the necessary steps to have a business in your area and this will help you to have a better reputation if you are licensed and all of the measures are taken to become legitimate. 

When investing in land the relationships you build and nurture can make or break you.  You want to know the right people and have a working relationship with them that you maintain.  If your name is known and people trust you this will give you an insider's edge to what type of property becomes available to you to invest in.  If you are an honest person that does not ignore responsibilities, you will have repeat customers and better opportunities. 

Investing in land is a great way to take your success in life to the next level.  If you take it slow and don't try to jump in feet first, you will learn the tools that will bring you satisfaction.  You want to look at investing as a lifetime of opportunities and always plan for the next step.  If you follow some tips you can create a new career that will offer a unique opportunity to follow all of your dreams. 

Peter Vekselman-Real Estate Coach

www.coachingbypeter.com

 

Steve Blehl
The Home Depot/Referrals to Geba Realty - Milford, PA

Pete, some good points made. But, when investing in land one of the most critical things that a person could do is to have someone that is very knowledgeable on land, land uses, values (I rate them myself as I know land well), zoning, and also what can be the highest and best use. Of course: location, location, location is important along with those local values. If you are talking about a building lot, the terrain in relation to the possible building that could be constructed is very important. Is there rock, blasting, grading, extra work involved, perk & soils if it is a septic vs. sewer system, and a host of points to look at. I rate lots like school: A, B+, C-, etc. If you invest in a C lot, you may save money up front, but you may have a lot that is more costly to build on. Also, from a marketability standpoint, most people look for an "A" lot or something close to it, and therefore you can limit the target market when ready to sell when you invest in a "B or C" lot for resale/investment purposes.

If you are talking about a large parcel of land, educating oneself through a college course, etc. may be helpful. I for one, would want someone who has the knowledge to address all the points necessary for just such a purchase/transaction. It is not easy. I know, and I was a two term Councilman/Deputy Mayor and I understand land use and development challenges connected with just such a sale. It is not for the amateur or for the beginner unless you have a strong background and/or a mentor to help you and some well grounded knowledge. I find that very few have the talent or know-how to be involved in large parcel marketing and transactions.

It also helps to have a love for dealing in land. Most agents don't care about land nor are they interested. I happen to love land and dealing in it. It can be very rewarding if you are good. Especially like when the market took off a few years ago and who had the most land listings? Wow, it was great! 

Jan 16, 2009 03:00 AM