How to Buy Land That Is Not Listed for Sale
I’m Ted Thomas, and I’ve been investing in a subset of traditional real estate for the past 30 years. Today I’ll be answering your question about how to buy land that is not for sale.
I can give you insight, however, my approach to life is to do business with others who want to do business. I rarely go looking for real estate that the seller is not trying to rid themselves of.
Let’s see if I can help you with the question of the day, how to buy land that is not for sale.
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There Is an Abundant Amount of Available Land for Sale
Before you narrow your choice down to a precious few parcels, I suggest you really look around.
We live in a world of abundance. If you’ll research, you’ll quickly learn that there are amazing amounts of real estate for sale.
My point in telling you this is I don’t want you to set yourself up for disappointment by falling in love with a piece of real estate that’s not for sale.
Are You Buying Improved or Unimproved Land?
What attributes do you want? Start by asking yourself, will the land have water? You could follow that with, does the land have power? Additionally, sewer and sanitation are always a concern.
Have you thought about the survey, so you know about the size of the land?
Sophisticated buyers who ultimately end up as sellers think about ingress and egress – that is getting in or out. Will you get in or out on a paved road or from dirt roads?
Doing Your Research Before Buying Land
It’s very inexpensive to research online. In most local counties, the GIS Mapping System (Geographic Information System) is available.
This is an amazing tool for research. It’s a satellite that will zoom in on the specific properties that you want to look at, and you’ll not only see the property but the surrounding properties and terrain.
Buying Land From Owners Who Are Not Selling
Allow me a moment to switch gears back to how to buy land that is not for sale. Just because the property is not for sale doesn’t mean the owner will not sell it. Of course, if you’re going to get a property that’s next to Disneyland, you may find some resistance and high prices.
If you want to know how to buy land that is not for sale, here’s your first step. Start with your objective, and determine your desired outcome. Do that before you start your search.
Sellers always want money, and you’ll need to learn to negotiate. If you haven’t done your research, how will you know a good deal from one that isn’t?
What Are Your Reasons for Looking for Land for Sale?
When you start your search, you’ll find dozens of properties. Don’t fall in love until you’ve thoroughly researched it. Think into the future about your objective and outcome.
Is this where you’re going to build your home and a small farm? Or do you just want to own a piece of land to protect yourself from inflation?
The land will be there two years from now, twenty years from now and, more than likely, 200 years from now.
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Getting a Land Survey Before You Buy Land
All land looks the same, especially while sitting in a car.
Don’t buy land without a land survey. The purchase may cost you more than you want to pay a surveyor. Only inexperienced buyers work without a survey and a competent land broker. The surveyor will advise you on what you’re buying.
The boundary survey is important. Is another property owner encroaching on your property? Or worse, are you encroaching on someone else’s property. Lenders will not loan without a survey.
Land for Sale at Seized Property Auctions
I’ve talked about how to buy land that is not for sale, and now I’d like to offer an alternative. Land that actually is for sale and sold for huge discounts. It’s not for everyone, but it sure worked for me. It’s not glamorous, but it’s highly profitable. The business I’m about to tell you about has been available for 200 years.
30-years ago, I discovered this subset of traditional real estate. It’s the same type of property, however, the property owners have failed to pay the property taxes and defaulted. This default sets off a chain reaction of consequences.
The local county government pays for the schools, police, firefighters and many other bills. The money to pay those bills comes from property taxes. No revenue collected means no way to pay government employees.
If the property tax is uncollectable, the county treasurer will then seize the property, push the occupants out, and sell the property at a tax delinquent auction with the starting bid at very close to the back taxes.
Buying Land Cheap and Reselling for Big Profits
The starting bid will be 10 cents or 20 cents on the dollar of the tax assessed value. The highest bidder wins. Additionally, the county treasurer will cancel the mortgage or deed of trust loan.
If you could buy at 10 cents on the dollar then resell for 60 cents on the dollar with no mortgage to pay, how much do you think you could profit? Especially, if you knew you could sell land online using eBay, Craigslist, the Multiple Listing Service, Zillow, and Trulia.
Nationwide, over 3,000 counties auction tax defaulted real estate. Each year over 2 million tax defaulted properties are sold with the starting bid at the back taxes. It’s not unusual for large counties to have thousands of defaulted properties available.
My students attend auctions and buy low. Then to profit, they quickly resell at a low price to house flippers and people who do fix-up.
You must know who your buyer is and whether the pricing is acceptable. Know the market and what your competition is doing. That will enable you to fit into the marketplace.
We hope you enjoyed Ted’s lesson, “How to Buy Land That Is Not for Sale”
Just because a piece of land isn’t for sale doesn’t mean the seller isn’t willing to negotiate. However, be sure to do your research first so that you know what you’re buying.
If your objective is to profit from buying and selling land, tax defaulted auctions offer mortgage-free properties for sale at discounts of 60%, 70%, 80% or more.
If you’d like to know more about tax delinquent property investing, Ted Thomas provides full support and complete training with home study courses, Q&A webinars, live tutorials, workshops, web classes, and personal coaching.
You can learn how to reap huge rewards from tax lien and tax defaulted property investing! Get started today by taking advantage of Ted’s Free Master Class! It costs you nothing and will give you a big head start!
Ted Thomas is America’s Leading Authority on Tax Lien Certificates and Tax Deed Auctions, as well as a publisher and author of more than 30 books. His guidebooks on Real Estate have sold in four corners of the world. He has been teaching people just like you for over 30 years how to buy houses in good neighborhoods for pennies on the dollar. He teaches how to create wealth with minimum risk and easy-to-learn methods.