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From the video
In this blog post, we’ll walk you step by step through the process of buying cheap land for sale Colorado.
Step 1. Figure Out Your Land-Buying Goals
People buy land for different reasons. Maybe you are a real estate investor who wants to make money on your land investment. Or maybe you want land that you can hold onto, which doesn’t require a lot of work, that you can retire on someday. Or perhaps you are an outdoors person who wants a piece of empty land that you can use for recreational purposes, like camping or RVing.
Before you buy any land, you need to figure this out first because your desired outcome or “return” will depend on your goals.
- Want to buy to subdivide, develop, and sell? Then you’ll probably want property that is relatively close to a city along the path of growth.
- Want to buy to hold onto someday for your retirement? Then you’ll probably want something that is far enough way to be peaceful yet will be close enough by retirement to get the infrastructure services you need.
- Want to buy land for recreational purposes? Then you’ll want something that you can drive to but is far enough away that your use of it won’t break any city bylaws.
Step 2. Find A Seller
Once you’ve figured out what you’re looking for in a raw land investment, find a seller with some inventory to help you.
You might have to review a few different raw land investment opportunities before you choose one so make sure you choose a seller with some inventory.
If you’re looking for land for sale online, there are a couple of land-specific sites you can search through. There are websites like Redfin, Zillow, Loopnet, and Trulia that are great for houses and sometimes even for land, but land is not their specialty. Those sites make it really difficult to get land-only details, these sites were more built for housing listings.
Some land-specific sites for finding sellers:
- Land.com. This network goliath owns Lands of America, Land and Farm, and LandWatch. On each of these sites, you can search specifically by state, price, and acreage. These websites have realtors and investors who post land for sale.
- Rural Vacant Land. This is run by Luke Smith, he’s also got his own YouTube channel if you’re interested in checking that out. For professional investors only (not agents).
- Landmodo. Landmodo is still kind of new, it doesn’t have as much traffic right now as the Land.com behemoth or Rural Vacant Land, but it’s still a great spot to look for land for sale. For professional investors only (not agents).
Step 3. Close The Deal
A good raw land seller will help you get everything in order so you can purchase the land. Select your land investment and close on the deal, filling out the paperwork promptly and working with your seller as well as any financing company or private investor who might be partnering with you on the deal.
If you’re buying land directly from the owner, owner financing can be a great option for you. This process is fairly straightforward and helps keep you on track for cheap land for sale (because you don’t have to pay the full cost of the property upfront, you finance it over time). You can learn exactly how to buy owner finance land for sale here.
Step 4. Enjoy And Benefit!
The deal will probably close fast and now it’s time to enjoy and benefit from your land investment.
Start deploying your land investment plan, perhaps by subdividing the land or going out for a day to enjoy the fresh air. Get to know your land and the possibilities it presents for you.
Wondering how to buy land cheap in Colorado? Follow these 4 simple steps and in no time at all you’ll be standing on your very own vacant land investment.
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