When I first started investing in real estate, I did not realize the amount of land that I could purchase with the money I had in my pocket. Sometimes, I even had the opportunity to purchase land for under $1K!
These type of people are in your state, your country, your town and sometimes in your own neighborhood. In some cases, these sellers are not going to take any action at all and it is up to you to find them. Use this as an opportunity to take the initiative and search them out!
That being said, what type of people are we actually searching for when we are looking to invest in land? Here are 2 examples:
Sellers that have delinquent taxes on property.
Some people own land with no mortgages/money owed on the property, but they can’t afford the property taxes. It’s normal for local or state municipalities to foreclose on properties that don’t pay taxes over an extended period of time. Therefore, instead of losing all the money they have invested in the land by having it taken by the government, they decide to sell the investment quickly and see less money now rather than no money later.
Sellers that have inherited property that they don’t want anymore
People receive inherited property all the time. They don’t see this land as an asset, but rather a hassle that they would rather live without. The majority of the time these owners don’t even want to go through the effort of selling a property. Perhaps they haven’t even been to the property and have no emotional attachments to it. This could mean they are willing to part with it for cheap to take away the nuisance of having it in the first place.