Real Estate Investment?

Question

I want to investment in some land, it could be anywhere in the United States. What areas are going to be the next booming areas? The last one I recall was Arizona. Let me know.

Also, what do you guys think of the land being sold on Ebay for a few hundred bucks? It's legit for sure because if any one is stupid enough to lie, its a FEDERAL CRIME.

Let me know your insights

Answer 1

My adivce would be to have an exit strategy in place.Meaning,your whole purpose of buying land is to sell it to a developer for a stack of cash for example. I would not buy land without a strategy. Also if this is your first time. stick to your local market, there is alot to learn about buying land. It's really complicated. For example is the land zoned for actual use? Do you understand anything about EPA/OSHA. The last thing you want to do is buy land and you find out you can't develop on it. Also do you keep up with legislation as it relates to land use? Or the latest regulations? You did day "invest" so that means you want to generate income from the land.correct? It takes much more then "yahoo answers" to get you started. Are you involved in any local Real estate orgs/clubs. Do you subscribe to any Real Estate Development mags/websites/newsletters?

I hope this gets you thinking.....

Answer 2

I would bet the Ebay for a few hundred dollars is just a Starting price and the owner has the right to refuse any and all bids.

You can buy and get a great Deal anywhere. Mostly have to be in the right location at the right time. If you haven't bought and sold much start with somewhere easy like near where you live say within an hour. Closer the better. Go out and look around get a feel for the market. Sometimes what looks like a good buy can be a fooler.

There is no Get rich quick but with watching and being out looking you will come across Good and sometimes Great buys. Might want to also figure in Holding cost meaning how long it will take you to turn the property Interest on your money. And Capitol Gains that is unless you put everything right back into another property.

Good luck

Answer 3

I've heard some parts of the Carolinas and Georgia are good and cheap. If you are rich I would invest in high end areas such as Hamptons, NY. I appraise property there all the time and people are still paying bundles of money for an acre.
Avoid buying land on Ebay or Landauction.com (i think) unless you physically inspect it. There could be tons of wetlands or a creek running through the property and it will take you lots of time and $$$ to develop. Also you don't know if there are easements on the property eliminating or restricting development on the property or if it can be legally developed (according to zoning, if not you will have to obtain a variance to develop it again more time and $$). If you do plan on purchasing the land you have to look into all of these things.

Answer 4

desire greater specifics as to what replace into the investment, how did they defraud, did you placed funds right into a sources that has long gone down in fee? not adequate concepts to offer a straightforward and valued answer