The news headlines have been a real treat for landowners these past few months. Tracking news about the land industry has become increasingly easier with social media and sites like LANDTHINK but never before has it been such a weekly treasure trove of news media touting the benefits of investing in land. Just this week the Omaha World-Herald kicked out this headline “Land’s back in the picture” and Delta Farm Press had this one “A billionaire speaks: invest in agriculture” and the list goes on. Since August I have posted links to more articles on the web about land than I did in total for last year.
So why all of the buzz? What makes land so great right now? Is land now suddenly a precious and valuable investment tool that was overlooked? What changed? I don’t think anything really changed. In Kansas over the last 20 years farmland has steadily increased as it has in other parts of the country in agriculture areas.
SOME THINGS NEVER CHANGE
When it comes to real estate investing, new books and gurus preach about new techniques all the time; truly the basics of real estate investments have not changed. Land never changes. What is on top of the land may change but the dirt is always there. Its article of incorporation will not dissolve overnight and disappear. Land will always be there and the amount we have now on earth will stay relatively the same in our lifetime. As the preamble of the National Association of Realtors Code of Ethics starts out… “Under All is the Land.”
ONE WORD
After the horrific news cycle over the last couple of years about real estate, most people were probably wondering if investing in real estate was still worth it. In a word – Yes! And that one word is LAND! One word can sum up hundreds of real estate books and investing seminars and that word is PATIENCE! As long term landowners can tell you their investments have done well over time and not in short bursts. One of the top 25 landowners in the United States, Holland Ware, still owns the very first piece of land he bought when he was 15 years old!
FOREVER LAND
Land must always be there for it is the foundation of everything in our society. Without land there would be no economy because we would have no place to build cities and businesses. The entire world depends on land and I think not even oil compares to it. If we don’t have enough land to build on, move to, or drive on then the demand for oil becomes a mute point.
TIMING THE PURCHASE
If you have ever thought about investing in land, now is the time to take action. In most parts of the country prices are still relatively low. However, be sure to first ask yourself if you have the patience to create long term wealth buying land. It is not a quick buck task. The old adage that money is made in real estate on the purchase still holds true even in this economy. If you are thinking about buying real estate, especially land, then think slow and steady. Research the properties carefully and execute due diligence on your research because the lowest prices on land do not always equal the best deals.
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These are time-tested and proven words Marisa. Thanks for sharing the insights. If an owner wants to check on their investment every day it’s as easy as driving by your rural property. It would be hard to pull a Bernie Madoff-type scam on someone if they bought rural land with a survey and title insurance. It makes it a pretty safe way to plant and grow some money.
Thanks again.
Jonathan,
Thanks for the comments especially “Plant and Grow Money” –that is great!