The best investments are the ones where you get in, and then as soon as possible you get out. Land development projects allow you to do just that. If you have the initial investment, you can easily turn $70,000 dollars into $1 million dollars.
Do your homework; you need a piece of land that is in an area that is in a good location, and water and sewage services should be assessable. The property should lend itself to an attractive development. Be sure there are no liens against the property and that you can get a clear deed. Be mindful of anything that may have been built on the land in previous years, it may not be a good idea to build homes on former slaughterhouse land or old cemeteries.
When you are confident that this is a good deal, purchase the land and start development. All you really need to do once you clear the land and make a roadway is to mark off half-acre lots. Price your lots to make money but still be affordable. This is also the time to set the development terms, each person who purchases a lot is agreeing to put a home on the lot worth at least a specific amount of money. This way, you can insure that you do not have a $90,000 dollar home on one lot and a mobile home with the wheels still attached on the other. People are searching for ready to build lots, and you should not have any trouble selling them. As soon as you finish this project, start another, and before you know it you will have turned your $70,000 dollars into $1 million dollars
Source by Perry Webbing
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