You have done your homework on what you need in purchasing land. You have your money in your hand. Ok, the next question is how do you find these cheap lands? You have various options. You can start by looking at the different Listing Service or by surfing the Internet visiting at pages like Realtor.com. These are great places to find properties but you will have to pay Market Value.
If you are anything like me and don't want to pay market value for ANYTHING then keep on reading!!! If you are looking to get bargain prices, you can also check with the local farmers, city departments if you want a vacant lot within the city limits and finally, the most common way to find any kind of real estate is by contacting real estate agents. While this is fine, it will not get you a bargain deal, and I am all about bargains.
Therefore, let us look at some other, better options available to find property for values way below market. Of course, you have the newspapers and real estate magazines you can look through to find the occasional bargain. When you are out driving, you will also see "For Sale by Owner" signs. My favorite way of buying land is to buy properties, which have Back Taxes accumulated. If someone is not able or willing to pay his or her back taxes, that tells me one thing: I usually have a motivated seller on hand
These may be people who need hard cash or someone who just does not want his/her property any more. Properties that are in these categories, Tax Liens or Back Taxes are subject to public record so all you have to do is go and look them up, apply a set of rules to the list of properties, based on your investment criteria, and then you have a good list of potentially motivated sellers at hand. But to find some of these attractive deals it will take a little hard work on your part.
You will have to do a some research on several properties until you find a few which fulfils your criteria when you find them (and there are HUNDREDS OF THOUSANDS of them out there), you can make a fortune on each of them. Nowadays, you do not even have to leave home to get a lot of the information you need. In many countries, most of this information would be available on the country's property appraiser website. Moreover, the beauty of this is that in the Tax Delinquent Property arena, you often only need a little amount of money to buy a property worth Tens of thousands of dollars. The key to making the most on these is to act first and have a little bit of cash on hand for a quick close.
These tips will put you in the right position at the right time to build your wealth.
