Land investment is one venture you cannot afford to take shortcuts.
Below are some of the reasons why some fail while other succeed.
- Information
Knowledge is power, know the A to Z of land Investment process so that when you skip one step you are aware. Information can be found in blogs such as these one. - Third Party
Land Investment journey requires you travel it yourself. Soil your hands in other words be hands-on, be involved in the purchase process. - Due diligence
I cannot over emphasize on this, I usually say, second guess everything and everyone until you get facts. - Lack of Plan
Having a clear Investment plan will guide your actions and strategies. Know what you want and what to do to achieve it. - Lack of enough money.
Land Investment is a capital intensive venture, ensure you have the required buying price, but you can also pay in installment. - Use of Advocate
In all transactions involve a lawyer who will guide you through the purchase process and documentations required. An advocate will ensure your interest are covered in the sale agreement. - Site Visit
Do a physical site tour on the land you intend to buy and ask neighbours who are the owners and if there any incumbrances they are aware of. - Leaving property or land idle
After purchase, do something to the property, fence it ,or plant trees. By doing so, you add value and avoid any encroachment from conmen. - Regular Visits to the Property
Carry out regular Visits to your land regularly, be sure by seeing. - Learn Market Sales
In Real Estate Investment, cycles are not static. Take advantage of the good seasons and profit from your investment by either leasing or selling off.
Land Investment has no ending advantages, know the loop holes and the trade secrets and you will enjoy good return on investment.
