Updated over 5 years ago on . Most recent reply
Investing in Land 101
Does anyone know of literature or podcasts that can teach me the basics of investing in raw land? There is house in Chambersburg, PA that is .8 acres and I would like to educate myself on my options with such a large lot of land.
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@Misael Carlos Vera I don't have any specific podcasts to point you towards, but have a few things to learn. One, financing will be different for raw land. Typically, more down and/or shorter terms. (i.e. a bank most likely won't give you a 30 year term on the land) Two, make sure to check utilities. Does it have water lines? Gas? Electricity? All of these things can be very expensive to have done on a raw piece of land. Three, learn commercial financing/construction loans. You can probably bundle the lot purchase with the build purchase in order to make things happen. This option would probably be available to you if you plan to build your personal home, but depending on experience, may not be able to get anything for new development.