Quote:
Originally Posted by LoneWolf
That's smart investing.
R8RFAN could do something similar. Use some of his cash as down payment to purchase a couple of rental properties in undervalued neighborhoods.
I purchase land when the right opportunity comes along. I bought 75 acres 5 miles west of Wichita 18 years ago and leased it to a farmer. The city has now expanded to where the land is in a prime development area. It's worth anywhere from $800,000 to 1.2 million right now.
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Yeah THAT is a nice lick.
I buy pieces of land all over the county. Only for the right price though. Ive bought TONS of little "lake lots" in these little subdivision areas outside of town.
Couple hundred bucks a piece at the most at the tax sake every year. Usually when I hang a sign one of the neighbors who keeps their yard nice (that's where scouting the area prior to the sale comes in ) jumps right on it just so they don't have to see it anymore.
Edit: that's also why I have barns here and there to store cars lol. I'll buy land just because it has a nice barn and is cheap sometimes.