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Land vs a single family home

Gladys Melendez
Posted Jan 30 2024, 16:55

Hello looking to invest not sure if buying land is a smarter choice or purchasing a single family home?

I live in single family home and pulled out a HELOC because I want to start investing and build generation wealth for my family.

Please advice what is the smartest, safest and cheapest way to reach my goals Ty

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Jason Wray
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Jason Wray
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Replied Jan 30 2024, 17:07

Gladys,

You can actually have the best of both worlds if you know of a great piece of land/lot. You can take advantage of a construction loan to build a New primary home or Vacation home. It allows you to include the land into the financing with the build.

It is becoming very popular in multiple states to find a nice piece of land or land lot and put a "Modular" or Manufactured home on the land. Now with a Modular, Manufactured and "Tiny Home" there is "No" waiting 6-8-12 months for the builder to construct it from foundation up. Instead you can pick out a Prefab home or by design and have that Modular tailored or built on site in half the time!

Because they do not require the builder to break ground and poor foundation its quick and easy. Values are also starting to show appreciation for these site built Modular homes as well, its a great way to buy low and sell high.

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Gladys Melendez
Replied Jan 30 2024, 17:51

Wow thank you for that information I’m looking to invest in Bullhead , AZ, & Cedar City Utah.

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Mike Paolucci
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Mike Paolucci
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  • Columbus, Oh
Replied Feb 5 2024, 19:19

Hi @Gladys Melendez have you looked at any of the markets in the midwest? Columbus, Cleveland, Toledo, Dayton? 

Might be a good option for you as well if you're open to out of state investing. 

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