I just started and I'm still in my education phase but I truly believe that professional success hides in specialization: once you've become the best in one niche (you'll never get there, but trying will bring you close enough), then you can move to another niche. Right or wrong I don't know, but that's the way I am, so I'm now at a point when I would like to better direct my focus, instead of bouncing around for the eternity :), and I really hope to find your valuable perspective helping me in my decision.
No doubts: Houses and Lands are two amazing and different Worlds (still, with several analogies) belonging to the same Universe. Nevertheless, being myself not only a newbie but also an out of Country investor, I see Land RE as an easier way to start and to scale my business, without all the complexities given by tenants, rehabs, financing etc.. Plus, most importantly, it still sounds quite profitable and, finally, it really seems to be a Covid proofed business, or, at least, not subject to crazy fluctuations like those of the housing market (so, more predictable).
On the Land side I'm currently following Jack Bosch and Seth Williams (the contents and the enthusiasm of both those guys are out-freaking-standing) and I feel like, at this moment, Land is kind of pulling me in its direction.
I'm open to receive your thoughts and experience to better shape my business. You are the best!
Thanks a lot, Arturo.
Hey @Arturo Paturzo - welcome to the forum! Did you have any particular questions about the land business vs the house business? They definitely both have their pros and cons. I've always found land to be a simpler business model overall with fewer moving pieces, but there are still plenty of challenges and obstacles to overcome. I certainly wouldn't call it easy.
Based on your profile, it looks like you're in Italy (is that right)? I'm curious what led you to consider land in the U.S. in the first place? It's always interesting to hear what path people are coming from.
Ciao Seth, thanks for your kind answer!
actually I am not looking for specific answers but more trying to collect opinions - motivated by facts - from experts about why a rookie should choose one or the other kind of investment. What I find amazing of RE (I run some rentals in Italy) is that everyone can find his/her perfect match... there is so much...isn't it beautiful? The other side of the coin is that it's such a vast sea that it can be also little scary from time to time, though. If you have a compass, things can be easier.
Coming at my story, I'm an Italian NATO Officer but I've been living out of Italy since quite few years....last stop (where I'm currently stationed): Izmir, Turkey (quite an amzing place indeed). About why i look at the US Market, there are quite many reasons. Let's say that the most important is that Italian RE Market is not easily accessible nor too convenient for a series of reasons: the average costs of the houses (forget the 1% rule in Italy :)))...), the eviction laws, taxes and last but not least the struggle you have to go through to get also just ONE mortgage is really REALLY a pain also for someone bankable, like I am and the credit score here is not the first thing banks see). Additionally forms of loans like Home Equity Loan or HELOC are just a dream here. So i looked around and i found the magic world of Tax Sales (I watched your videos on your tax deeds experience). I opened my LLC, Bank Account and started Tax liens with some fair results but, sure not life changing. Only one month ago i started Tax deeds (i have my second auction in lee county FL in 10 minutes...2 lands targeted...i'll let you know) but competition is very high also there now and this affects not only the possibility to get the properties but also their prices. So i wondered: can it be the case that I can buy them before they go to auctions? And then that was the moment that I realized that someone thought about it way before me: now I'm in the process to educate myself and decide if I want to focus more on Land or Residentials. I'm kind of climbing the stair of experience, enjoying the journey.
That's my story. Thank you very much for all you do for the Commuity, Seth. You are quite an infinite resource of incredibly useful information!
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