Chicago, IL · Member since 2016 · 7 posts · 3 votes
Hey BP community, I was wondering what you guys think about buying and flipping land or small lots (in Illinois), is it a good investment today's market?
Investor · Los Angeles, CA · Member since 2014 · 180 posts · 72 votes
10y
Flipping raw land in general can be a good business. A lot of people focus on more rural areas where they can get a lot of acreage for a small price. You can target tax delinquent properties (and can obtain a list of them from the county) and start a direct mail campaign. I personally flip land nationwide and it certainly is time consuming and has a lot of intricacies to figure out, but can be a good way to get started in REI.
Check out Seth William's episode on the BP podcast here and his blog on land investing here which contains a wealth of free information on the subject.
Investor · Los Angeles, CA · Member since 2014 · 180 posts · 72 votes
10y
Flipping raw land in general can be a good business. A lot of people focus on more rural areas where they can get a lot of acreage for a small price. You can target tax delinquent properties (and can obtain a list of them from the county) and start a direct mail campaign. I personally flip land nationwide and it certainly is time consuming and has a lot of intricacies to figure out, but can be a good way to get started in REI.
Check out Seth William's episode on the BP podcast here and his blog on land investing here which contains a wealth of free information on the subject.
Investor · Scottsdale, AZ · Member since 2008 · 281 posts · 113 votes
10y
Hey Efren,
I prefer flipping in the Southwest, California and Florida. Just the biggest market for buyers is what I'm interested it... No one wakes up and thinks I'd love to own land in Illinois unless you live in Illinois... Make sense?
Matteson, IL · Member since 2014 · 4 posts · 2 votes
10y
Hello Efren!!!
I am in Illinois and I have been watching deals all around me and someone is getting paid.
This may not be the Get away state but money is being made and I am honing in on a first deal.
I say watch the area habits and pick the correct exit strategy for that area. Some do well as rentals and others are great for $ales ((family area's-low crime, spacious home, and some affordability). I will admit the investors do a darn good job on style and craftsmanship, so make it a good rehab...