Posted by David Krulac on September 09, 2004 at 21:10:45:
it is not very common. In some areas like Baltimore, there is a lot of land leases, but most other places they are rare. It does happen particularily in the commercial world, but is not that common in residential. Some of the old residential land leases are at super low rates like $100 rent per year. Well that’s not even enough to pay the taxes. Farm land rent is another example, but again you won’t get rich. Around here farm land rents for $50/acre per year, which agian in many cases doesn’t pay the yearly taxes.
The bottom line is few people have heard of it, know it or like it, so if you approach somebody unfamilar with teh concept, they’ll probably say no. How will you convince people that its a good idea AND how will you make money?