Vacant land is one of the most valuable investments you can make, but it is also one of the most often overlooked. In some areas, it can be difficult to obtain land, but in other areas, the investment opportunities are plentiful. If you are looking to diversify your investment portfolio, take a closer look at the land for sale in Northern Colorado.
Many people assume that you have to do something with your investment property in order for it to be profitable, but that is not the case at all. In fact, land is valuable whether you are using it for something or it is just sitting there. Take these reasons to buy land into consideration when planning your next investment.
Reason #1: No repairs required.
When you purchase traditional or commercial real estate, you are inevitably taking on the role of landlord. Whether you choose to take care of the property yourself or hire a property management company, you are committing to any future repairs or renovations that the property requires. Your vacant land will never require an emergency repair or an expensive upgrade. If you choose to build on the land in the future, this can be done on your timeline and under your budget. The only thing you need to worry about initially is whether or not the property will be suitable for building on in the future.
Reason #2: You can get a great deal.
In many hot markets, homes are being sold at or above their list price. Residential real estate is often a seller’s market, making it difficult for investors to find high quality, affordable properties. This is often not the case with vacant land.
More so than with traditional real estate, sellers of vacant land are motivated to sell. This is true for several reasons. One major factor is that many landowners live far away from their land. This means that, unlike with residential real estate, landowners do not have an emotional connection to the property. This makes them more likely to part with the land with minimal haggling.
In some cases, the landowners are looking to recoup their investment or make the most of an inheritance. Often times, the owners are hoping to finance another project, meaning that they are looking to sell the property quickly and for a fair price. This is the perfect scenario for a savvy investor. If you are vigilant, you will be able to score some great deals on the land for sale in Northern Colorado.
Reason #3: You might even be able to pay cash.
Another reason investors love vacant land is that it can often be purchased in cash. This allows investors to avoid paying interest, bank fees, and loan origination fees, saving money in the long run.
If you are interested in the land for sale in Northern Colorado, contact me, Matthew Curry. I would be happy to help you explore your options for an investment property in Northern Colorado.