Before Buying Any
Many of the world’s wealthiest people
made their fortunes in real estate. Warren Buffett, one of the
world’s richest men, said:
will tell you how to become rich. Be fearful when others are greedy… Be greedy when others are
There may be
several reasons why you are considering investing in land. You may want to
build long-term wealth. You may be looking to make a quick profit flipping a
lot. Or maybe you are looking to build a future retirement or vacation
of the reason, the key to acquiring real estate is buying at the right price! Buying at the right price can
generate instant equity. Right now may be a golden opportunity to acquire land for future
a fraction of their 2005-6 values:
know, real estate prices are at a fraction of their highs from five years ago. Some land has decreased as much
as 90%. But
real estate will eventually recover.
It is only a matter of time. The question is how
soon. Location and demand of the property help dictate how quick it will
believe Charlotte County, Florida is one of the best places for medium to long-term land
get to the “Seven Things You
Absolutely Must Know Before Buying Any Land in Charlotte County, Florida” I will briefly tell you why Charlotte County is such a good place to
Why Charlotte County, Florida?
several important factors to consider when investing in real estate. Below is a brief review of a
few that should be considered.
1. Liquidity: Liquidity is
important. You want to be able to resell your property in a reasonable amount of time if you want and/or
need to liquidate. A lot in a desired area, priced at a good value, will maximize
2. Carrying Costs: What good is a land investment if the costs associated with owning
the property (carrying costs) eat up all the profits? For instance, let’s say you
purchase an investment lot for $10,000 and resell it five years later for $15,000. This seems like a good deal
right? Maybe. If it costs you $1,500 per year in taxes, dues, assessments, selling costs, etc. you would
actually have $17,500 invested and sell for $15,000 at a loss of $2,500. One of the primary reasons I
personally invest in Charlotte County is the low carrying costs. Most lots will only cost
$150-$350 per year to hold. This helps establish a larger exit profit.
3. Amenities: Amenities near the property
are important when trying to resell a lot. Lots in rural areas are much
more difficult to sell than lots in urban areas. Charlotte County has most of
the amenities of a large city (malls, movie theaters, hospitals, good schools, chain restaurants, shopping,
etc.) with a small city feel.
4. Recreation: What do you look for when purchasing a property? Think about it for
a minute. Many people get interested in property because of a feeling. They picture themselves on the beach, playing golf in the winter, catching a large fish in
the harbor, or enjoying the warm weather. Charlotte County has it
are buying more than just land; you are buying into a dream.
5. Cost: When you go to sell, is it
easier to sell a piece of land for $10,000 or $100,000? This is another reason I
choose Charlotte County for investing.
Their lots are a great value. You can purchase buildable
residential lots for under $10,000.
More people have $10,000 to invest as compared to $100,000. This also helps when you want
to sell. If you have $100,000 to invest it may be worth considering purchasing ten lots as compared
to one expensive lot. This way you can sell them quicker or even just sell a few to liquidate some quick
6. Location: This is probably the most
important criteria to look at when purchasing an investment property. Charlotte County has an
ideal location. It is located on the Gulf of Mexico and has beautiful white sandy
beaches. In addition, it is close to interstate I-75. This makes it an easy
destination from Orlando, Ft Lauderdale, Palm Beach, and Ft Meyers. In short, Florida coastal
land will always be in high demand.
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