How to Make Land More Valuable in 2024

from Turning Profit · host Pete and Heather Reese

While land flipping presents a unique opportunity for wealth creation, simply buying vacant land and finding a buyer without doing anything may not maximize your profits.Fortunately, there are several inexpensive and practical strategies to increase the land's value further.In this episode, Heather and I go through some innovative strategies for increasing the value of land through various enhancement techniques.From minor subdivisions to navigating local regulations, we reveal strategies that can significantly enhance your property's worth.However, value-add projects vary considerably in cost, time, and the ultimate impact on the property's value. It is important to evaluate the as-is value and estimated time to sell, besides any proposed value-add enhancements, and come to a decision when you have all the information.For our business, the value-add project must significantly increase the property's value or significantly decrease the projected time it will take to resell the property.Tune in to learn more about these opportunities and how to evaluate them. Key TakeawaysIntro (00:00)Increase land value with surveys (05:26)Why you need to conduct Perc tests (10:19)Clearing brush can be a great way to add value to a property (14:09)Lot splitting to sell smaller parcels at a higher price per acre (19:53)Infrastructure investments that can increase value (22:09)Access improvement to increase value (27:32)Feasibility studies to establish any potential concerns (30:58)Getting permits to add value to a property (34:04)Changing the zoning and annexation (39:47)Let’s answer some questions (40:48)Additional Resources:✨ Get all of our recommended tools and services at https://resources.landconquest.com✨ Follow Pete on Instagram here: https://www.instagram.com/partnerwithpete✨ Connect with Pete on LinkedIn here: https://www.linkedin.com/in/partnerwithpete/—Turning Profit is a podcast for people who love real estate, brought to you by Pete and Heather Reese.Follow us on your favorite platform so you never miss an episode!

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This episode was published on March 5, 2024.

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