What am I missing?
So all the lots in the most popular counties in AZ - are not buildable and most have no power, electric or water. Yet they are sold and resold with such HUGE profit margins. While I completely believe in this business model, I also believe 100% on what Renee Riker (episode 30) said - I do due diligence and stay away from land locked, lands not buildable, wetlands and in general other weird lands. What am I missing about these rural / desert land that makes it so popular mainstream that it gets flipped over and over. While I am getting ready to do the same- I am just concerned that I am completely missing something. Am I? Just treading with caution....
mattpayne Matt Payne last edited by
I agree that it makes very little sense, but there must be something to it, or people wouldn't be doing so much business in these counties.
I'm with you. I am working with a coach and he has me in this county that is the same. Literally it is this giant subdivision that never grew past 30%. Just thousands of uncleared lots being flipped, but it doesn't seem like anyone actually builds anything on them. I have no clue what to expect. Wish me luck!
Danielle I feel like we're lining the pockets of land moghuls out here who keep greasing the fire. I hear Jack Bosch is one among many out there. I know Scott of Land Geek who pretty much yells at flight school to get into these counties. But as long as we all make money - shd I turn a blind eye? Will I get into trouble by mentioning names in here? But all this is pretty common knowledge if u do enough research online.
jawollbrink Jason Wollbrink last edited by
What are you missing? That people buy low priced land (and most everything else) based on emotion not reasoning!
I have moved a few of those lots but now focus on more larger acreage rural stuff. However I have off grid plots with terrible access flying off the shelf because people want to own the sense of freedom. A place to get away to, or the sense of investing in real estate.
That being said I don't make a business model out of buying junk, and would try to avoid those purchases...especially when you are starting out.
Also you are not wrong in your statement about Gurus, which also has broight too many new investors to focus on the same markets and a lot of wholesaling going on.