Naw man he is right. I stay in Nashville and its this guy who brought 5 arces in front of my sub division in 2015 with plans of building 30 houses on it. Here it is 2023 and they still giving him the run around on developing it. His money been sitting on the sideline almost 10 years now.
@@djelliott3158I'm an investor in Nashville and getting permits in Nashville is a bitch especially when you're black we bought .5 acres in Nashville for 2 mill sold it 15 days later for a profit of 300k
THIS is the summary of the rent vs buy decision I’ve been trying to figure out for years. The rental income vs mortgage payment calculation never made sense to me. But this is much more logical and makes far more sense. Thank you for simplifying this!
Most people are unable to handle a fall since they are accustomed to bull markets, but if you know where to look and how to get around, you can profit handsomely. It depends on your entry and exit strategy.
The fact that the US stock market had been on its longest bull run ever makes the widespread worry and enthusiasm understandable given that we are not used to such unstable markets. As you pointed out, it wasn't tough for me to earn over $780k in the last 10 months, so there are chances if you know where to go. I hired a portfolio advisor since I was aware that I needed a solid and trusted plan to survive these trying times.
Exactly… everyone is so caught up in the “Investment Property” terminology. I’m looking for land to live on where I can escape the city and the people, where I can live in peace among the trees and rivers, I have ZERO intention to ever sell. So what about US!? Why aren’t there programs for those who don’t intend to sell as an investment property!? If there is such a program, I’m all ears 👍
i bought land in 2007 for $13k paid $89 in taxes per year and i just sold it for $80k i was going to build my retirement home on it but they where giving me numbers that I couldn't resist. I'm 45 now so i still have time. looking to buy more now. please fellas don't listen to these internet knuckleheads. follow your heart. Luckily for me, there was no Internet. and RU-vid back when I was purchasing real estate.
@@urbanitesgarage3299 I see lots of land around $20k little over. I guess it all depends on the area that you're looking in. I personally want to retire where there's not many people less crazies lol
@@Hardstyler981 I own multi-family properties now. I live in one of my units and 1 apartment pays my mortgage. So I'll be fine. Like I said thank God no RU-vid back then. Because listening to all of you I'd be in the same boat as the negative opinions. 🙏🏼 I'm currently negotiating a 2 acre property for around $20k feasibility study done great land in Florida. So I'll be good. Thank you 😊
This guy doesn’t want you to buy vacant land, cause he wants less competition. The bank financing you has to do with how much money you got. That’s it.
Actually one advantage to buying inexpensive vacant land is that other than the taxes one pays, there are no maintenance fees, utilities, structures & infrastructure to maintain. So when it comes time to build on it, a person can add these services gradually. However when a person owns a home, there are many additional expenses to worry about.
I own two properties with vacant lots next door they came up for bid tax purposes so I bought them that way I know whose next door to me all the time me
I'm coo with vacant land, that way if anything goes wrong where I am currently staying, I can just take my RV and still have a place to stay, but that's just me.
I’m buying 10 acres in cherryville, NC. Right now, it has a condemned trailer I’ll need to get removed. I have no incentive to buy property with a house. I’ll clear some of it and build a small house.
Vacant land can produce consistent cash flow every single month if you are resourceful. There are many trucking companies and other companies that need yards to park their trucks. Also Airbnb has a option to rent out parking spaces . You can store vehicles on land while you watch the value of the land go up or down and decide when you want to sell to cash in for some profit , or continue renting out parking spaces , let land pay itself off. Put concrete, see if you’re able to park a mobile home on land. Do all the necessary to set up a mobile home , solar panels if there is no electricity, build well, install tank for water. Little by little while land is paying itself off with the parking space business
Last month, $375k land when out for sale. It was sold in two days. Today, it is now for sale for $645k. I bought 3.06 acre land November last year and so with my neighbors, now those land almost double the price. I'm glad I bought land thinking I pay small land in full. Buy a brand new manufacture home in full. Now, I have decent home mortgage free.
One problem, the same land with and without property on it are entirely two different prices. Someone with a budget of say 25k will not be able to find land with property, but they will be able to get a couple acres of empty land.
Going through this process, paid for land outright, corner lot, 1.8 acres, Just cleared the entire lot from over 30 years of brush. Top area is flat and perfect for building, going to suck to get permits and approvals. Once it’s done it’s going to be the best piece of land in the area, just higher than the ones around it, privacy of being elevated and a corner lot with oak trees and pine trees. All trimmed and taken care of. it’s going to be an awesome retirement home.
Land is one of the few things they aren’t making more of. You might buy 100 acres now for 400k for example in 15 years it’ll be worth a great deal more
Small things like putting electric a well and septic on land brings its worth up by 10s of thousands. If you buy outside of HOAs you can build with little to no restrictions. Shipping container homes are the new fast way to build and flip. Side note they are way more structurally sound then these cardboard homes going up for 300 to 600k these days.
Land will always be valuable and prices for land just keep going up. It may not be a passive immediate source of money, you almost definitely sell at profit in 20 years. Buy land now people!!
this man is just trying to get the viewers to not buy land so he can have it all.... imma buy some farmland then sell it to bill gates for 1 billion but he might disagree and get me 86
Farm land is different is not vacant land i dont buy vacant land is not a good investment you have to have the money to build a house cash or credit cards to build and pay permits yust for rougt constrution you need abouth $150000 or more then pass inspection then you can get a construction loan to fished the house and if you want youre house to keep it you have to pay youre credit cards and the construction loan is differen when is to sell the house and the people that give the construction loan want their money + 10 persent interest is 100 percent better to buy a house i have houses in san diego ca im a flipper i pay cash
Buying land will never be a bad idea. For any reason whatsoever. It is a natural resource and at some point even if you don’t benefit or reap from it. Your children will and your grandchildren. If you can buy land. Just buy it.
This is good advice, the buy and hold vacant land did not work near me in CA. Lots of people did it and now they land is not selling down the line because no one can get permits to build there with so many restrictions. Kinda sad to see old people losing so much money and not getting to build that dream home they pictured
I think he is right from a financial perspective, perhaps wrong from a human perspective. Most people want lots of land to get away from other humans, and to have the physical resources. A lot of people are done with modern society.
i would only buy land when my house is completely paid off ($8,000 left)... im 55 yrs old....that way the risk is reduced. i want to grow fruit one day
Gets you collateral for your next deals. They arent making anymore land! See to this guy it doesn’t have enough value for his pocket but for a poor man this is a life changer.
if you buy it, build a house and sell it to a family you make a ton of money one time with no future hassles and you help everyone in the community including the person you sold it to.
I respectfully disagree. Buying raw land is subjective and depends on what purpose you have. It sounds like this dude is a city dweller waiting for money only. I’ll trade my rental townhome for a nice piece of raw land where I can hunt, fish, and therapy out away from the city any day. The time spent on the vacant making memories supersedes a few hundred dollars cash flow coming in and in 20 years, it will have only increased in value.
Wrong! I bought 1/2 acre vacant water front lot for $250,000. Split it into two 1/4 acre lots, nothing else, and sold both of them for $250,000 EACH! Held the land for about 2 years total. Sold one immediately and the other after I decided not to build there. Land was financed for 120 months.
Not a ‘good investment’ is subjective. If your goal is to make money sure but if you’re goal is live simply, grow gradually, and own a piece of land that you can make your own eventually then yes it is a good investment in YOURSELF. Buying a home comes with its own problems and money issues and if you want to change anything big in your home you need permits and money for that too. Nothing is free and getting rich easy is bullshit.
The nation that considers cash-flow the definition of a good investment, is a nation with a death-date. Whatever benefits my sons most, is the best investment. I don't need monthly cash flow unless I actually NEED the money. Otherwise I want that land for my children to build their houses on.
I think that viewing vacant land as a cashflow vessel is the wrong way to look at it. I view it as a non-dividend paying stock. You buy a quality acre and sit on it while it appreciates in value. If you want to sell after a year, 5 years, 10 years, its going to be worth substantially more than what you've paid for it.
Buy it far enough out from civilization and you can do whatever you want. Spend a weekend pouring a slab then get some walls up and a roof. Bam! Unless of course you don't own any tools
I guess it depends on your intent. If you're worried about revenue and ROIs, then yeah, maybe not, But if you want your own little piece of property to build a cabin and grow a garden, and live in an off grid homestead, then, vacant is just as good as any
Interesting...you can't build a house without land...even as an investor. Yes, an investor can buy a house already on land...but somebody is still making money off selling the land...so there can be a house for people like him.
Land ABSOLUTELY produces “cash flow.” Well not technically in the moment, but it does go up every month in value, more than a savings account, so I would rather have my money there.
Property taxes are much less vacant land. You put a house on it and now you're paying attaches on every acre. Say you buy a hundred acres of land. Divide it and only put your House on two acres. Ninety eight acres will be much lower in taxes.
🔥Someone has to be negative bc they'll lose $$ or they want it for themselves & this is why I DONT watch their vids or flow their advise cz they're NOT goin to stop me🤣🤣‼️ With God ALL things are possible, PERIODTTT😉🤣‼️
