Land for Investment in Philadelphia
There are many ways to invest in real estate – from residential to commercial to multifamily, fix and flip to rental properties. However, one often overlooked way to invest in land investment. Are you looking at buying vacant land for investment in Philadelphia? If so, keep reading because this blog post will explain why you might consider holding vacant land in your portfolio. There are many reasons people might be interested in buying vacant land for investment in Philadelphia.
Reason #1. Land is one of the original investments!
Before people were flipping houses for network television, investors were staking their claim on raw, vacant land and building their fortunes on it. In ancient times, humans made kingdoms based on the value and opportunity that land presented… even raw and undeveloped land had perceived value.
Reason #2. Land is a scarce commodity
Land is scarce… no one is making any more land. The more people own, the less is available (it’s a simple supply and demand issue). So, by investing in land, you are banking on the land supply to continue dwindling, which tends to cause the land value to trend upward. While there are no guarantees of investment appreciation, the historical real estate trends indicate that a lower supply and increased demand push prices higher.
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Reason #3. Multiple exit strategies
One of the most compelling reasons to own land is that you have many options to profit and benefit from the investment. For example, if you invest in single-family houses, your only options are to rent them or sell them. But with land, there are many more exit strategies. You can build on it, subdivide it, rent it out to farmers, and even sit on it and wait for an urban center to come to you. Of course, it all depends on where the land is and what the bylaws are, but you have multiple exit strategies when buying vacant land for investment in Philly.
Reason #4. Enjoyment
Another reason to consider buying vacant land for investment in Pennsylvania is the enjoyment factor. Depending on where your land is, you may be able to enjoy the land for yourself (such as for hunting, fishing, camping, or just relaxing) before you make money from it. Of course, this may not work in every situation, but it is a consideration!
Reason #5. Less work
As far as investments go, vacant land investment is not very much work. In many cases, it’s a “buy and hold” or “set it and forget it” investment so you can buy and then wait. And any upkeep you may have to do is often minimal.
When it comes to real estate investing options, buying vacant land for investment in Philadelphia is a very compelling investment for many reasons.