Buy land and wait, don’t wait to buy land:
Forget construction! Forget renovations! You don’t need to be an expert or know anything about how to rehab a property yourself. In most cases, you really only need to know one thing: “Is the property suitable for building?” As long as someone else can build on the land if/when they want to, a huge part of the battle is already won.
Have you had enough of dealing with tenants, toilets, bugs, mold, lawn care, leaking roofs, bursting pipes, broken furnaces, and the hundreds of other issues that come with owning buildings? Vacant land doesn’t involve ANY of those things. Once you buy it… it sits there, it behaves itself, and nothing happens.
When you buy vacant land the right way, it’s easy to buy each property with your own cash and completely avoid dealing with banks and mortgage companies. When you know where to look for great deals on land, it requires very little start-up capital to get your business up and running.