Unless you invest in land that is in a transitional area - that is one that will have a zoning change or is in an area of expansion within the near future - land appreciates much slower than real estate and it does not generate any income while you own it. In fact, you will have to pay property taxes.
If you are looking for a good investment, look into buying rental properties. You can put them under the management of a property manager. They will look after everything and deposit a check every month into your bank account. Then when you return to the USA, you have a house to live in or a property to sell.
Location is a key factor when you are buying a land. If location is farther from the city, then costs of land may decrease. So you need to make sure that the area will fit your all specifications.
There are a number of factors that must be considered like the location, size, lease status etc. Make sure you work with a professional so as to avoid any legal issues. I have been working with a local real estate firm and they offer efficient services always.
Years ago I knew a retired Florida federal judge. After his retirement he moved to Ohio. He took a few dollars and bought a piece of cheap land. Not sure, at first, what he was going to do with it he decided to see if he could sell a lot of the old trees many of which were dead. He made enough to cover the money he invested for the property.
He sold the old trees, some already on the ground, many still standing. A firewood company paid him for the wood. He sold some of the healthy trees as well to thin the property area out a little. This cleaned the property up nicely.
A homeowner looking for property contacted him a short time later and bought the property. The property was mostly cleared and all cleaned up from dead wood on the ground. He made a good profit.
He then found another piece of property, a little over grown with trees, and this property had an old farm house on it. Guess what he did? Sold the bad and dead trees, put a little money into the old farm house then rented the house out with some yard space. The property had some apples trees so he sold the apples to someone that would come out and pick them. Each year he sold the apples and made more money off the apples trees.
It has been awhile since I’ve talked to him but I bet he’s still doing the same thing.
Oh ya, the judge never used a lease agreement or signed any contracts for tree removal.
So if you buy undeveloped property have a plan for it. Get everything out of the property it has to offer.
Profitable land investments can include properties near commercial zoning that is at a lower zoning category. Farm land that has developmental potential. Another consideration are burn out or run down properties. Often the owner forgets about the land value and is only looking at the house. Remove the house from the land and sell it as vacant. Can often reap a good return on that as well.
Jeffrey, rather than hijacking someone else’s post, why don’t you start your own. Let us know what you have in mind and we will try to point you in the right direction.
Buying property in the US one of the best ways of investment, but it is important to consider some important factors before buying property such as location, size, lease status etc. I will suggest you to hire a professional real estate agent for buying property in US. An agent is very helpful for buying property in a good location and area.