The trick with vacant land is to
understand why it’s vacant in the first place. You must have run across
quite a few vacant lands that seemed attractive at first glance, but eventually you discovered that the reason nobody was using them was because you CAN’T use
them. If one
(or more) of the issues are prohibiting someone from putting
a property to good use, believe me – you don’t want to find out after
you already own it.
When some people look at the
prospect of owning land, they get wrapped up in the dream of property
ownership. The idea of owning a large tract of property can seem very
appealing, even if it is of no practical use to them. This kind of trap
is especially easy for people to fall into with land, because it’s a low
maintenance property and doesn’t seem complicated (even though there are a lot
of factors to consider).
MANY people buy into the dream of
property ownership – even if the investment makes absolutely no sense from a
financial standpoint. If you don’t believe me, check out this guy who sells
property on the moon:
Unfortunately, many parcels of land
are sold to “the greater fool”. When people don’t do their homework and think
things through, they can get hurt. Don’t be the greater fool. Always
be sure you have done a reasonable amount of research and don’t take on a property
until you thoroughly understand what you are getting into.
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