How to Purchase Land in Georgia
I’m Ted Thomas, and I’ve been involved in real estate for the past 30 years. I’m sure you’ve already noticed everyone wants to own a piece of the United States. Today I’m answering your question about how to buy land in Georgia, and I’ll reveal how to buy land in Georgia for pennies on the dollar.
There’s a lot to learn. You could start with raw land buying and selling, or maybe you’d prefer to develop the raw land, which is a creative but very expensive proposition.
There is a lot of opportunity with small parcels and large parcels of land, and there are many people who do not want to live in a closed-in subdivision because they prefer to live out in an open landscape.
Want to learn how to purchase bargain real estate? Would you like to buy mortgage-free property for pennies on the dollar? Or earn double-digit interest rates secured by real estate? Then you don’t want to miss this FREE Mini Course.
How Much Is an Acre of Land Worth in Georgia?
Let’s talk about how to buy land in Georgia. The Department of Agriculture has created significant data about land, and they start out with the basics where most properties, referred to as acreage or acreages, are bought and sold.
Due to the high inflation over the past few years, the land values are changing rapidly. So whatever numbers we put in our report will change substantially again over the next few years. The point I am making is that comparison purchasing is a must.
No matter what the Department of Agriculture or the MLS or the current market says, you need to look at what is sold that is comparable to what you’re buying.
Land has many different values depending on the location and the usage. For example, on a farm, the land has a different value than the pastureland which is really just grazing land.
Compare apples to apples. There is no one price that is always accurate. Unimproved land could sell for as low as $1,500 an acre. Irrigated land could bring $4,000-$5,000 an acre. The usage of the property makes a big difference. Most experts will also take into account, was the purchase all cash? Or is it financeable?
What’s Your Objective for Buying Land in Georgia?
Today’s episode is a discussion on how to buy land in Georgia. To start with, it’s wise to know your expected outcome. What’s your objective? Are you buying to quickly resell, like people do flipping houses, or are you buying to hold for appreciation?
If you’re buying for a long-term hold, are you financing? Do you intend to change the property, or are you using the property as an inflation hedge so you don’t lose your money to inflation?
Do you want timber or open rangeland? Are you looking for agricultural land which you can farm, and what type of soil are you searching for?
The common question is, how much is land? What is the price per acre?
The difficulty with appraisal and assessment is you don’t know what you don’t know. Most brokers and agents that do not specialize in land have no idea. It’s probably best to start with someone who has experience and expertise.
Zoning and Easements on Land in Georgia
There’s a lot to know about land. Do you understand easements?
Local governments have many rules that must be followed. There are many different ordinances pertaining to zoning that may apply to your purchase. The best bet is to start at your local county or city, certainly at the planning department. They will give you insight into zoning, easements, and other ordinances.
Keep in mind there are many different types of land – cultivated land, urban land, timberland, pasture land, and subdividable land.
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Finding Land for Sale in Georgia for Pennies on the Dollar
Now, I’m going to explain how to buy land in Georgia at bargain basement prices.
30-years ago, I discovered a little-known business that was a subset of the real estate business and found that I could buy Georgia land for pennies on the dollar. Savvy investor types have been doing this for decades. I’ll give you an example. Let’s start with my former student who’s now very wealthy.
In Georgia, at a tax defaulted auction, he purchased 13 acres of land for $1,539. If you do the math, that’s less than $120 per acre. I would say that is a pretty great deal.
A short time later, he sold that property and made an $11,000 profit. He knew the outcome he expected; he wanted to purchase and resell it quickly.
Purchasing Redeemable Deeds on Tax Delinquent Property in Georgia
In Georgia, if the county can’t collect property tax, it will put the owner in default. Then ultimately, the county will sell the property to the highest bidder. My student was the highest bidder at $1,539 and received a deed to the property.
In Georgia, the rule is you purchase a redeemable deed. What on earth is that?
A redeemable deed means the owner of the tax defaulted property has one year to redeem the property and pay the highest bidder a 100% return of capital plus a 20% penalty. In this instance, the owner never redeemed the property and lost 13 acres.
The new buyer expected a 20% return, however, he received a deed to the property for a small investment of $1,539. He ultimately sold the property for $15,000, and after paying all the fees, taxes and the broker, he had a net return of $11,000.
Get Cheap Land for Sale in Georgia at Tax Defaulted Auctions
In Georgia, they have 159 counties, and every county is authorized to have an auction every month. That means it’s possible to purchase tax defaulted properties in Georgia in all 159 counties monthly.
At these auctions, investors can buy tax defaulted Georgia land for 10 cents or 20 cents on the dollar because auction properties are sold for 60%, 70%, 80%, and even 90% less than the assessed value.
You make your money when you buy and collect your money when you sell, and you can buy land at bargain basement prices at a tax defaulted auction.
We hope you enjoyed Ted’s lesson, “How to Buy Land in Georgia
At a tax defaulted property auction, you can purchase real estate for amazing discounts. The bidding starts at the back taxes, and the highest bidder wins.
Georgia is a redeemable deed state so the property owner has one year to redeem the deed. If the property owner redeems, you get all your money back plus 20%. If the property owner fails to redeem the deed, then you own the property.
If you’d like to know more about tax delinquent real estate investing, Ted Thomas provides full support and complete training with home study courses, Q&A webinars, live tutorials, workshops, web classes, and personal coaching with certified coaches.
You can learn how to reap the huge rewards from tax lien and tax defaulted property investing! Get started today by taking advantage of Ted’s Free Master Class! Act now, it costs you nothing and will give you a big head start!