Getting into Real Estate Investment? Why Your First Purchase Should Be Land. When you’re first investing in real estate, it can be a struggle to come up with a sizeable down payment to purchase residential property; however, raw or undeveloped land is available at affordable prices for any budget. In addition, with a bit of imagination and creativity, raw land can offer investors many opportunities to create cash flow while remaining in its undeveloped state. Finally, investing in land can be very exciting when blended with another personal business interest.
Many new investors decided to purchase land during the pandemic for a multitude of reasons ranging from relocating as far away from their major city to a more rural environment in order to have peace and quiet and most importantly the ability to plant their own crops for their own personal food supply. Many people were attracted to the idea of planting seeds and growing their own crop as their primary food sources in the event food becomes scarce if there is another pandemic or jam in the delivery of goods to any area. Many also built their own farms and are raising chickens and cattle as additional food sources along with their vegetables and fruits. This allows these investors full control on their food supply and provides them insurance in the event there are food supply disruptions. Another plus is that these investors are also saving money by growing their own food. Farming also serves some investors as a form of meditation and relaxation allowing them to focus quietly on the task at hand by planting and grooming their farm and animals.
When purchasing land, the location is of utmost import, so be confident you have done your research, and you must perform your due diligence as with any other real estate purchase. In addition, you must ensure that the land is useable and approved for the intended use and that the investment is sound by running the numbers that show you’ll receive a healthy return on your investment. Read more about why land should be your first real estate investment in Schenectady.
Buy and Hold
For those just at the start of their investment business Journey, the land is a perfect asset to buy and hold over the long term as it appreciates. Because land is a limited commodity always in high demand, there is no question of the value going up; the only question is how much. As a result, investors can rely on the property’s equity increasing and, therefore, a reliable hedge against the market’s volatility through diversification. In addition, real estate value correlates with increases in inflation, thus offering security against a rising cost of living while continuing to build wealth in their real estate portfolio. Talking to an expert land investor like the professional investors at Tristate Holdings 167 can help new investors zero in on the property type, size, and location best suited to your real estate investment strategy.
When you’re part of a smaller buying pool, sellers are more motivated to consider all offers like land investors. There is less competition, making land a tremendous first for real estate investment in Schenectady. Purchasing land should involve careful research into the many factors that influence the viability of the property and pinpointing the actual market value. Suppose there are known issues that you’ll have to spend time and money to adjust. In that case, you may have room for bargaining. Working with an experienced negotiator on your team, such as the professional investors at Tristate Holdings 167, can save you a great deal of money, especially if you’re new to the nuances of the negotiating process.
There is much less demand on your time and pocketbook when you own raw or undeveloped land. When you make a real estate investment, a large part of evaluating the profitability, or the return on your investment (ROI), is the expenditure per year to maintain the property. Carrying little to no maintenance costs makes land a wise option for your first Schenectady real estate investment. Familiarity with the Schenectady zoning regulations and other guidelines that can influence the amount of upkeep a vacant lot requires can help you evaluate this cost when you add up the numbers. When your real estate investments grow to such a magnitude as you cannot spend time building wealth because you’re handling management issues, it may be cost-effective to work with a professional property management team. No matter how many holdings are in your real estate portfolio, the full-service team at Tristate Holdings 167 is ready to help you manage as much or as little of your duties as you like.
Why not call today to see how Tristate Holdings 167 can help you invest in Schenectady land. Contact Tristate Holdings 167 Inc. at 1-(888) 788-7478.
Tristate Holdings 167 is a team of Cash Home Buyers. We Buy Houses in the following surrounding areas of Schenectady, New York, (Hawthorne Hill, Niskayuna, Niskayuna Southwest, Fort Hunter, Rotterdam West, Lisha Kill Park, Niskayuna West, Dunnsville, Fullers, Pine Grove, Glenville, Glenville Center, Aqueduct, East Glenville, Glenridge, Harmon Park, Union Street, Alplaus), Albany, Altamont, Ballston Lake, Ballston Spa, Burnt Hills, Clifton Park, Colonie, Guilderland, Latham, Scotia, and other areas of New York.
Whether you are trying to avoid foreclosure, inherited a property you do not want, dealing with a divorce, or are fed up being a landlord dealing with tenants, we can help. If you need to Sell Your Schenectady House Fast we offer Cash For Homes in Schenectady New York!