Perception is the key to real estate investing. It’s all about perception. As always, the goal is to sell high and buy low. Once there is enough appreciation to make a profit, you want to buy the land at a low price and then sell it to someone willing to pay a lot. According to https://www.bbntimes.com/, the process of selling land is an art. It would be best to get solid guidance when purchasing your first piece of land.
Pay Attention to the Trend
This step is a good indicator that there is a growing market. If there are enough commercial real estate investors, building a shopping center as a residential development could be a sensible strategy. This also applies to very urban spaces. Many abandoned areas in the downtown area can be converted to housing. Some older residential projects are demolished to create mixed-use areas with commercial and residential space. Grants may be available to fund these projects, and HUD offers urban renewal assistance programs.
Search for Employment-Related News
Purchasing a home requires a regular income. A good indicator of well-paying jobs is the opening of a new government office in a city. Housing is more likely to be purchased in areas where high-paying jobs are prevalent. Discuss this with your city’s planning department. Have rights-of-way recently been acquired for the installation of sewer lines? Are our fiber optic lines planned by the local telephone company? This is a “must” for housing construction. These are signs of impending housing growth. Another suggestion is the opening of new parks and the issuance of school bonds.
Learn More About Demographic Trends
You should inquire about the demographics of your locality. You can find the median age and birth rate per capita in U.S. Census (and local county) data. It is vital to invest in areas that are growing. The high number of people retiring early and the high percentage of people in their 40s and 50s indicate that many retirees are more likely to sell their properties. Know where to look: the urban areas of California and the largely rural areas of the Midwest.
Take Notes During Board Meetings
Get in the habit of getting the minutes of all meetings held in the last year if there is a local planning board or urban development council. They are available for public inspection at the council offices. You can also try to attend the next round of meetings as an observer. Talk to county and city officials about building and housing trends. They want properties that will be in demand in the next two to three years. Look at street plans and find out all the dates. You should also look for picturesque properties. Lakefront property is a great investment, especially if it is at the end of a development corridor. If the city wants to acquire land for parks, you can buy the adjacent land now and sell it later.
Speak to Professionals
Talk to architects to find out if they are available. Keep in touch with attorneys, bankers, and engineers. These professionals often know more about projects than the general public. Get in the habit of reading the business section of your local newspaper. Sometimes the bottom column is the best place to look for signs that a new business may be setting up a store in your area. These guidelines will help you find the hidden gems of raw land. With these properties, you can apply the “buy low, sell high” strategy popular with commercial real estate investors.
