Is it reccomendable to buy land?

[Santiago Ramiro Girado]

Hey! What would you recommend me to have into account when buying land? Is there a particular strategy I should know? I'm just starting off with real estate, so I'm a bit lost. 

[Robert Dobbs]

1.  Your best efforts to concentrate (I.e., "farm") in a particular area that you can relate to.

2.  Become a "student" of current land values (I.e, "recent comps" vs. "assessed values") in the particular area you chose.

3.  Once you establish a "price point" that you can purchase vacant parcels at a "price point" that allows you to sell "quickly" at "current selling prices".

"What's the trick" in finding good vacant land deals? Well it's making "tons of offers"! With the understanding that "life events" are happening "all the time" and this creates "motivated sellers" (I.e., "real estate investing 101"!!!).

In other words, many times, it's not just about "current land values", ...but it's about "live events" unfolding with the land owners (Sellers).

Health issues, death, disability, financial troubles, legal problems, "divorce or separation", job loss (which is a big deal now!), relocation, foreclosure, just to name some of the many possible current "life events" taking place, creating a "never-ending" batch of "motivated sellers".

This phrase, I've heard many, many times, over the years from Realtors: "Mr. Dobbs, ...I can't believe the Seller accepted your offer!"

Important to remember: Real estate agents mostly list vacant parcels at "current selling values" or higher. As Realtors try to get the "highest and best" pricing for their clients (Sellers). Much of the time these "life events" that "popped-up",  ...are NOT known to the selling agent (Realtor).

So once you "have a handle" on the "current selling values" of "that particular area" you chose to concentrate on, start making lots offers. You will be amazed how often you will "stumble-upon" super deals! On the surface, it will be seen as "lowballing" (low-ball offers), but actually you will appreciated by these "motivated sellers", as many times, the sale was not about the money, but about "life events" and simply, ..."the need to sell"!

I've "bought and sold" many 100s of vacant parcels, ...most were purchased "well below market" -------------> from "motivated sellers"!

Good luck to you!