Buying Land In Arizona – The Benefits!
Whether you are just thinking of buying land in Arizona or you
want to add to an already robust portfolio, land can be a safe and
profitable choice! There are many great things about buying land in
Arizona. Learn more about some of the benefits in our latest post!
When people think about real estate investments, their minds
donBuying ‘t usually jump to buying and selling land, although maybe
they should! Land is easy to buy and easy to own. It doesn’t require
time, effort or a large down payment. It is an appealing asset to
investors of all levels and can be an extremely simple way to generate
profits fast. Keep reading to learn about a few of the many benefits of
buying land.
Potential Profits
The profits on land can be huge and can happen almost overnight in
some cases. In one scenario you can buy a lot in an up and coming area,
and resell for a few thousand more than what you paid. Another option
would be to find an ideal piece of land to develop and determine its
highest and best use. Maybe you can build a rental property, a duplex,
or a commercial office building.
Even something as simple as fencing a piece of land can add value.
Whether you choose to hold the property without developing it, develop
and rent it out, or sell it once it has been developed, you will likely
be able to amass thousands of dollars in profit. Before making plans to
develop a property, make sure it is zoned the way you need it to be or
that you are comfortable and feel confident about requesting a zoning
change. Nothing is worse than making plans to build and finding out you
won’t be able to go through with the project as intended.
Great Way To Get Started
Buying land is one of the easiest ways to begin investing in real
estate. For a few thousand dollars you can own a piece of land outright,
without ever having to borrow any money from a lender. By not taking
out a loan, you can potentially save thousands on loan origination fees
and interest.
Katherine and I make this even easier by selling land for low monthly payments. When
using land to begin your portfolio, you can buy in a growing area and
quickly resell, taking the profits and reinvesting into something
larger. Keep this up, and you will have created a massive portfolio in a
short amount of time!
Low Maintenance
If you choose to keep the property, your maintenance costs will be
little to non-existent. The only real costs of owning land come from
property taxes. Also, depending on the lot’s location, you may have to
pay to have it cleared once in awhile. Land in some subdivisions needs
to be maintained so it is not overgrown. When you own land, you won’t
have to deal with repairs, renovations, or high property taxes.
In many counties, one acre of land will only have about $8 worth of taxes per year! You
won’t have to worry about the property being damaged or vandalized. In
most cases, owning land is a completely hands-off and low-maintenance
investment, with the potential to bring home big profits in the
long-run!
No Geographical Limitations
Buying and selling land is much different than buying and selling
other forms of real estate. In most cases, you don’t even have to see
the property in person in order to confidently make an offer.
Tools like Google Earth allow you to even view the land directly from across the country!
With the tools available to you online, you can research and view a
piece a property no matter where you’re located, opening the doors to
investment opportunities all over the country and even all over the
world!
Do you want to learn more about buying land? Our team is here to help! Send us a message to find out what we can do for you! 602-303-1456
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