Sam,
you can make money in vacant lots investing but
not theway you are thinking. I look for small
buildable lots that’s in paved street and all utilities are in and will not need grading etc.
As they say buy low and sell high. You should make money after you buy not wait 3 years. Less
maintenance except property tax and weed removal
once a year if needed. I prefer Less than an acre
lots.
Check Michaela’s posts. She seem to be the one
that have the best experience and knowledge
on this. I bought several lots recently with luck
maybe or hard work, one was bought Sept 2004
others last May. I am very very happy with the
return on my investment when I sell. I am
in San Bernardino, Redlands Ca.area.
Did you check Silver Lakes area?
I am a total newbie to vacant land investments. My friend suggests me to buy a piece of land, around 5~10 acres in Palmdale, CA area.
Anyone here who have experiences buying vacant lands and keep it for a short-term, 2~3 years? How do you find a good land where the builders are willing to build new housings?
Land is usually not a good investment. It takes money every month/year. A good investment puts money in your pocket…not take from.
A rental with postive cash flow is a much better investment.
Buying land you are hoping only for appreciation. At this point palmdale isnt looking too good. Palmdale has gotten clobbered by bubbles in the past and this one is turning right now.
There is a great chance that land in that are will go down up to 50% in the next few years.