Q&A: Financing a Vacant Land Purchase

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If you'' re going to buy the vacant land you much better be prepared to write a big check. Here ' s today ' s Real Estate Minute. Here'' s the response: I like the strategy and it seems like youve allocated well, you have a good concept of what you hope to accomplish with the purchase, but youre going to have to get innovative to discover the funding you require. If you ' re going to hold on to the land for ten years without building and finance your ownership for that period of time– we can have an entire separate discussion about that. If the land doesn'' t truly appreciate, the carrying expenses of holding the land all these years will outweigh any cost appreciation you d take pleasure in by purchasing now.

Video Transcript:

If you'' re going to purchase the vacant land you much better be prepared to compose a big check. Here ' s today ' s Real Estate Minute. If you ' re going to hold on to the land for ten years without structure and finance your ownership for that period of time– we can have an entire different discussion about that.

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