When Selling Land, Solving Problems Can Make You Money

If done correctly, buying rural land at a relatively low price and selling at a higher price can be an excellent vehicle for wealth accumulation if you take the time to educate yourself about the process and the best strategies for maximizing profits. Besides pride in ownership, there are plenty of good reasons to buy rural land, and price is one of them. It is fairly easy to find reasonably priced land parcels across the country. While you can buy cheap land, you always want to maximize your return on investment when you decide to sell. From an investment standpoint, you never want to sell at a low price when you can make more money off of the property with minor investments.

Each tract of land is unique, and there are almost as many ways to improve the value of land as there are parcels of land and willing land owners. One thing we know is that land buyers love certainty and hate uncertainty. As a landowner, anything that you can do to reduce their uncertainty about the features of your land will likely yield a positive return on investment. That’s why improvements such as creating or developing access, reducing tract size, and cleaning up a tract so that a buyer can visualize owning it are so helpful. If you want to make money selling land, success will often depend on how well you problem-solve.

In this video, Pat Porter, broker at RecLand Realty, outlines some different strategies to consider.