Buying and Holding Undeveloped Land
Hello, I am new to the real-estate market and I'd like some input about my proposition. Currently I am looking at an undeveloped property in upstate NY to buy and use for leisure activities (camping and skiing). Besides just using the land as a private get-away, I'd like to plant ginseng in hopes that it too will grow with my land investment.
There is one property I found online that is selling for a very reasonable price. It has been on the market for over two years and the price continues to slide down. I'd like to make a lowball offer (%50 of their original asking price) in hopes they'd accept.
Is there any information or tips users had from buying vacant land?
Thank you!