I’m in the research phase, trying to figure out if this is a fray I’d like to join. A lot of the information available online is pre-covid. The housing market has gone crazy over the last year, at least in my area. House prices have been skyrocketing and supply is almost non-existent. I know there are many driving factors for the current housing situation that I don’t think would apply to the vacant land business, but I’m curious, for you experienced investors who were doing this well before covid hit, how has supply and demand changed for you? I’m not looking for specifics (although they’re always welcome), just generalities would be fine. I’m just trying to get a feel from you if I’d be in for a rougher or easier ride than how it might have been getting started pre-covid.
P.S. I’m really enjoying the investor interviews on YouTube. What a great way to learn about the ups and downs of your experiences, so big thank you to Seth, Jaren, and all of the interviewees!
@brian-formosa it’s impossible to make an observation that applies to every market equally, but a trend I’ve seen is that the demand for land has gone up since pre-covid. This makes land a bit more expensive to buy and it also sells for a bit more too, the increase in prices goes both ways. I don’t know if this is because of COVID though. The market has been heating up around the country for years now, and it could just be a continuation of that trend.
There has been a general shift in people moving away from cities and into more rural areas, so that could be part of what’s going on. Even if that is a big cause of it, this single issue probably won’t be one that sticks around for a long time. Whenever the day comes that COVID is under control, there won’t be much of a fear-based reason to keep fleeing cities, as far as I can see.
I concern with what Charlotte said.
Land markets in many places have seemed to heat up. The aquisition prices have also heated up do to the increased demand and a lot of ndwbie land investors sending overpriced offers.