Are you thinking about buying empty land? It can be a compelling investment for some investors. If you’re thinking about it, here are 6 reasons we’re buying bare land in Illinois…
When most people think of real estate investing they think of houses… or maybe apartment buildings. But at Chicago Property Deals, we like to think about land. It can be a very compelling investment for many investors. Here are…
6 reasons we’re buying bare land in Illinois
No one is making more land! The land we have is all that’s available. This means that the supply is always dwindling but demand has never been higher… and declining supply and increasing demand help to drive the value of land investments generally upward.
In many cases, raw land can be a very affordable investment, especially when compared against a property that has a house built on it or gets city services. You might even be surprised at how low some properties can be acquired for! (If you want to see our inventory of affordable raw land, click here and enter your information into the form).
#3. Exit Strategies
If you own a house as a real estate investment, you’re pretty much stuck with renting it out or flipping it as your only choices. But with land, you have many more exit strategies available that you might not be aware of. Yes, you can rent it out… in many different ways (for recreation, to farmers, etc.) You can develop it (such as subdividing it). You can even just hold it and wait. Or you can consider it a personal investment and enjoy the land yourself. And there are many more options. (And you can always mix and match these strategies, too.)
#4. Growth Opportunities
Raw land is perhaps the most basic real estate investment you can get. But the great thing is: even making simple improvements to the land – perhaps clearing it and mowing it – can help to increase the value of the land quickly. Of course, it really depends on what you plan to use the property for but our point is that you can do many things to grow the value of your land.
For buy-and-hold investors, raw land is a very easy investment. You buy… and then do nothing! Raw land requires little or no work or upkeep, which means you can own a whole bunch of land and never wear yourself out like you would if owned a whole bunch of houses.
Look beyond the potential financial return on investment (ROI) and consider the “fun factor” – your own enjoyment of your land can also make it a great investment. With an investment in land, you now have a place to get away from the city, go on picnics with the family, or maybe go camping.
We love raw land as an investment and we’ve just shared 6 reasons we’re buying bare land in Illinois and think you might consider it too.