Beginner’s Investing 411 – How to Know If a Potential Land Investment is Right For You
They say that land investing is a gold mine. Land is a resource that
so many lucrative investors have failed to tap into, paying closer
attention to things like real estate, stocks, and bonds. While these are
all well and fine nobody ever gained wealth pursuing one avenue, and
that is where land investment comes into play. Investing in land can be
tricky business though, especially for those who are just starting out
in the world of investing-whether it is land investing or investments
period.
Part of the trick is knowing when to say no, and understanding that not every investment has good return potential. The only problem with this is understanding when a potential land investment is right for you and when it may be best to keep it moving.
You Got a Great Deal on a Tract of Land
Investment is about spending money to take money, but not going broke and hoping and praying to see some return. You have to be smart about your investment. If you got a great deal on a plot of land through an inside tip, a desperate seller or some other luck of the draw go for it-so long as it will be sell able or usable by you in the short run.
You’re Positive You Can Make it Work
If you are positive that you can make something work, by all means go for it. Part of being a good investor is about trusting yourself to do the right thing, and while you may not always be right it is helpful to learn to trust your own instinct-especially if it has proven you right before. If you have an inside tip on a piece of land and you are fairly certain that you will be able to utilize it to your profit, go for it. Unless you have some reason not to take the leap, the alternative is to sit around and wonder if you could have made it work, and that won’t make you a single dollar.
You Have Done it Before
Just because you have seen something done doesn’t mean that you can duplicate it. If you have had success with a certain system, a certain seller or buyer, a certain type of land or anything else in the past the chances of you being able to succeed through duplication are much higher, substantially lowering your risk. Duplication is the best strategy of them all, and if you find something that works stick with it.
Because Investment is About Risk
If all else fails, don’t forget that investment carries with it a slight risk of loss. Don’t take this to mean that you should do something that you have second thoughts about because investment is risky, anyway. Always trust your gut. It is important to understand, however, that investing in land is no more of a sure thing than investing in some Fortune 500 company. Something could happen any day that could change the world and the quality of your investment as well.
Part of the trick is knowing when to say no, and understanding that not every investment has good return potential. The only problem with this is understanding when a potential land investment is right for you and when it may be best to keep it moving.
You Got a Great Deal on a Tract of Land
Investment is about spending money to take money, but not going broke and hoping and praying to see some return. You have to be smart about your investment. If you got a great deal on a plot of land through an inside tip, a desperate seller or some other luck of the draw go for it-so long as it will be sell able or usable by you in the short run.
You’re Positive You Can Make it Work
If you are positive that you can make something work, by all means go for it. Part of being a good investor is about trusting yourself to do the right thing, and while you may not always be right it is helpful to learn to trust your own instinct-especially if it has proven you right before. If you have an inside tip on a piece of land and you are fairly certain that you will be able to utilize it to your profit, go for it. Unless you have some reason not to take the leap, the alternative is to sit around and wonder if you could have made it work, and that won’t make you a single dollar.
You Have Done it Before
Just because you have seen something done doesn’t mean that you can duplicate it. If you have had success with a certain system, a certain seller or buyer, a certain type of land or anything else in the past the chances of you being able to succeed through duplication are much higher, substantially lowering your risk. Duplication is the best strategy of them all, and if you find something that works stick with it.
Because Investment is About Risk
If all else fails, don’t forget that investment carries with it a slight risk of loss. Don’t take this to mean that you should do something that you have second thoughts about because investment is risky, anyway. Always trust your gut. It is important to understand, however, that investing in land is no more of a sure thing than investing in some Fortune 500 company. Something could happen any day that could change the world and the quality of your investment as well.
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