Are you a Phoenix landowner? Depending on the property, it might make more sense to sell it as opposed to continue holding on to it. We can help you learn how to profit from selling land and how to determine if it is the right time to sell in Phoenix!
Obviously, this is key when flipping any type of investment. In order to buy low, you will need to know how to find the best deals on Phoenix land. These deals are usually off-market and can be found by approaching owners directly or by working with a company such as The Trusted Home Buyer]. Land specialists will be able to better guide you as opposed to residential agents and real estate professionals.
When it’s time to sell, you will need to get your land in front of the right buyers. Who will want to buy the land you own? Aside from advertising your land in general real estate platforms, consider marketing directly to investors, developers, and international buyers.
If market conditions aren’t providing you with the profits you would like to see from your Phoenix land, it might make more sense to hold on to it until things swing into your favor. The costs to hold the property are typically pretty low and might be negligible when you think of how much more you could potentially make at a different time. There are a few things you can do to make money from the land in the meantime. Depending on the lot and your zoning, you could rent the land out to a local business for parking, lease it to a neighbor, rent it to a farmer for agriculture or livestock, or even rent it out for recreational use. However, there isn’t any guarantee your land will appreciate in the time you need, so if you aren’t seeing growth from your land, you might want to consider putting your money elsewhere!
Or at least try to. Land can be difficult to value. Try to find out as much as possible about future plans for the real estate around you. Are new developments or shopping centers going in? Knowing what is happening around you will better prepare you for marketing and for finding the right buyers of your Phoenix land.
One of the best ways to see profits from your Phoenix land, it to develop it! If you land isn’t appreciating at the rate you had expected, you might want to consider putting a structure on it before selling! Just make sure that someone will want to buy it. If interest in land is low, this might be true for other types of real estate as well. However, when you have a home or business or the property, it makes it much easier to lease out while you are waiting to sell.
If you see high profits from your Phoenix land, prepare yourself for a visit from the tax man. Capital gains taxes might apply to your situation and can take a huge chunk of your profits. You can avoid these taxes by reinvesting in a “like-kind” property. Consult with your financial planner, accountant, and attorney to better understand the tax ramifications for your situation.
As with selling a residential property, the aesthetic matters! While people will be focusing on the location itself, what they see in pictures or when driving by will have an effect on their decision to purchase. Consider clearing the lot of any debris, overgrown plants, trees, old structural elements and trash. You can even go so far as to scattering some wildflower seeds to help beautify the space.
Inventory of resale homes is low, and the rising interest rates are making it harder for buyers to leap into home ownership, potentially causing a surge of failures comparable to 2008. We are now seeing a rise in mortgage lenders' bankruptcies, which is troubling news for an already uncertain market. NQM and Bankruptcies Now there […]
Last weekend our CEO participated in the annual "Hotshots 19" charity and memorial event to honor the 19 members of the Granite Mountain Hotshots firefighting team who lost their lives in the Yarnell Arizona fires. As part of the local CrossFit community, Martin and his family supported this event through donations and participating in their […]
It has been a little over a week since the FTC (Federal Trade Commission) finished its investigation into the "iBuyer" company, Opendoor. The FTC alleges that Opendoor Labs, Inc. used misleading information when pitching its service to homeowners. That alleged deception has now cost the company a cool $62 million. In the aftermath of the […]
If you or a family member have a cluttered house, you might find yourself questioning whether or not it is hoarding vs. clutter. Is there a difference between the two? And how can you fix the situation? First things first, understanding if you are, in fact, dealing with hoarding will help you develop an action […]
