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How To Make Money With Vacant Land In New York

How To Make Money With Vacant Land In New York

Most people assumed that vacant land is useless except for using as a playground or a entertaining guests. In the real estate industry, there is a saying that suggest that you always want to own the land- not the property. The saying is not as frequently circulated nowadays, but nonetheless the same still holds true. Purchasingland in its rawest form has proven to be one of the most profitable avenues to pursue when investing in real estate. If you are looking for a specific niche to build your real estate on, vacant land is not only one of the most profitable options, but because the competition is scarce, you may find that there are more opportunities available.

Wholesale Land To Builders                             

Wholesalers are middlemen who facilitate real estate sales transactions in the private market. Simply put, wholesalers locate investment properties, securing them with a purchase contract, then sells the properties over to investors. And while wholesalers typically focus on residential property in their business, man can be whole celled to builders in the exact same manner. My wholesaling land to builders, you do not have to have any money to put down as a down payment on property, nor do you have to acquire alone in order to purchase the land at the closing table. As long as you can secure the contract to purchase the property, you can facilitate a land deal with no money, no credit, and no loan.

Build And Construct On Raw Land

If you have some money to invest in your real estate business, then you can purchase land and build a house on it in order to make money with land. Most new construction lenders require a 10% down payment on the purchase of the land. So if you are buying a parcel for $50,000, you only need $5000 to secure the investment loan. The money will cover the cost of the construction of the property, as long as your exit strategy is to sell the property mentally, then you can make money with land using a small investment and multiply that investment as much as 20 times over. And if you take it one step further by becoming a general contractor, then you will make even more profits on the back and because you will not have to pay and general contractor to oversee the construction phase of the deal. Those savings translate into more profits when the newly constructed home is sold, so if you plan to become a builder in order to make money from land, it is wise to strive to become a general contractor as well.

Once you decide which path you will pursue in order to make money in real estate, knowledge is the key. That is what is important to yourself with as much information that you can find that relate specifically to that sector of business. But do not make the assumption that you have to know everything first and take action later. You can learn as you go, taking one step at a time to venture out into your local real estate market. Of course you will make mistakes along the way, but because there are other real estate professionals whose money may be at stake in the same real estate deal that you are working on, they are not going to allow you to make mistakes that will be detrimental to their profit. You can always count on other listed investments to help you along the way, and learning is easier in real estate when you are learning from your mistakes. So be proactive, take action and be assertive as you start your business in real estate.


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