From the video:
Whether you are just beginning your real estate investment adventure 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 Charlotte County. Learn more about some of the benefits in our latest post!
When people think about real estate investments, their minds don’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 in Charlotte County.
Charlotte County is located in southwestern Florida, on the gulf coast, which is a huge draw for a lot of land buyers. It includes the cities of Punta Gorda, Port Charlotte, Rotunda West, and Manasota Key. It’s in a special spot, perfectly poised for buyers to get a ton of benefit from investing there.
When making any real estate investment, it’s important to take the time to learn the market. There is tons of free data and information online that can help you with this. Realtor.com and Zillow are great starting points.
For example, we pulled data from Realtor.com going back to the beginning of 2018, to help us understand the market there and identify any trends. The first thing you’ll notice is that there are cycles to this market. That’s a common theme in real estate.
The second thing you’ll notice is that this current hot cycle (keep in mind that lower numbers are better here for both days on market and hotness rank), is still running. It looks like both days on market and hotness are decreasing continuously.
So the most obvious takeaway is now could be a great time to sell. This brings us to our first hidden benefit…
The profits on land can be huge and can happen almost overnight in some cases, especially in a suddenly hot market, like the current market in Charlotte County. 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. What is the most profitable development that the property zoning would allow? Maybe you can build a rental property, a duplex, or a commercial office building.
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. 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!
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. In Charlotte County, you can expect property taxes to be a couple of hundred dollars a year. If the property has beneficial features like road access, city water and sewer, and electricity, you can expect it to be more than that.
Also, depending on the lot’s location, you may have to pay to have it cleared once in a while. Land in some subdivisions needs to be maintained so it is not overgrown.
Especially if it’s in a gated community in Charlotte County, those areas want to keep even vacant land looking good and fresh.
When you own land in Charlotte County, you won’t have to deal with repairs or renovations. 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.
With all the tools available to you online, you can research and view a piece of property no matter where you’re located, opening the doors to investment opportunities all over the country!
And if you really wanted to get some boots on the ground without traveling to the property yourself, you could consider hiring a photographer or realtor to go out and look at the property for you, and take pictures and videos of it.
Do you want to learn more about buying land in Charlotte County?
Our team is here to help! Send us a message to find out what we can do for you! (313) 349-0434
Want Your Own Florida Land Buying Guide? (complete with a list of things to check before you buy!)
You can get yourself it for free – just fill out the form below!