Is land a Good Investment?

[Rowen Burney]

Hello BP, I recently came into possession of a list of hundreds of lots that are FSBO in the upstate of SC and was wondering, "Are lots a good investment?". I wanted to hear fellow BP member's opinions on investing in land and whether or not I should do the same. Thanks so much, everyone. Have a great day!

[Pat L.]

I was bored so picked up 3.8 acres at a tax lien auction for $22k. My wife was annoyed complaining that it was not a money maker like all the properties we own plus the taxes were an annoying $900/yr. BUT it was the perfect building lot, flat, no low spots so virtually no expensive site prep required. House on one side was built for $385k & the school district was in big demand. The other neighbor approached us after we bought it & offered to maintain the grass etc as long as he could use it to access his back acres in his tractor, deal!!

18 months later we sold it for $60k & the couple built a 5 bed/4.5 bath $425k home on it. My wife then says maybe we should have kept it longer, because I think we sold it too cheap. 

Ya can't win. 

But if it's viable build site & in demand area its a no brainer to buy & maybe develop it.