Is Vacant Land "Flippable"?

A friend and I were talking the other day about all of the "Flip" shows on televison these days. In our conversation, he asked me if I thought that vacant land could be "flipped" and what types of things could be done to a vacant piece of property to enhance the selling price. Having "flipped" vacant land and having worked with another friend on "flipping" his land, I new for a fact that what he was asking was very doable.

Here is a list of things to do when flipping vacant land

1.) Clear Wooded Areas. Bottom line is this: Not everybody has vision. If you have a nice lot, but it is heavily wooded, the future buyer may not be able to vision through the woods, their house being built there one day. Also, clearing a piece of land can be costly and time consuming. If you do it a head of time, it may increase value and allow you to raise your asking price. ***note: know your area. If you are in a rural area selling large acreage, this suggestion may not be for you.

2.) Clean up ALL trash on the property. Take this lesson from me. I did a quick flip in Florida once, where I bought a piece of land, didn't mow the grass and didn't pick up the trash. The property sold a few months later at a profit, but how much quicker would the property have sold and most importantly, for how much more if I would have just taken care of it?

3.) Till the land and sow seed or wild flowers. This is a cheap way to turn a vacant piece of land into something pretty. Till the land up and sow some seed. Wild Flowers grow quick and will make that "pile of dirt" you are trying to sell prettier.

4.) Plant a few trees. I know, #1 I said clear the land. That is for a heavily wooded area. For other lots, planting a few trees in strategic areas may be a good idea. I would avoid planting them in the middle of the property however.

5.) Have the information ready for utility hookup or have the utilities in place. If utilities are in place, that is less work the buyer will have to do. If you have this done for them, remember to adjust your price.

6.) Research. Research to see if the property has ever had a house built on it. Why? I once helped a gentleman find a piece of vacant land to flip. After I did some research for him, I found that at one time, there had been a house built on the property. We found out that because of this, impact fees for a home up to 1600 sq. ft. had already been paid. This brought GREAT VALUE to the property. We marketed it as "Pay No Impact Fees" and sold it very quick.

And the #1 way in my opinion to make money "flipping" vacant land:

7.) Subdivide. Quite simply, if you find a 1 or 2 acre parcel (or anything really) that you think you can buy and then split, there is value in that. If you get a great deal on 2 acres, and then split the property up into 4 half acre lots that you could sell for double, wouldn't that be something you would want to do?

If you are interested in flipping vacant land, whether you live in Florida or not, contact me ASAP and I will forward you some information.

Until next time...

Johnny Davis

Platinum Professional Realty PLLC

www.iselllakecounty.com