I recently came across an article about John Malone, a billionaire media mogul who has become the largest landowner in the nation, surpassing Ted Turner. His vast holdings, totaling over 2.2 million acres, have sparked curiosity and speculation among many.
Some believe that Malone's acquisitions are aimed at creating a massive wildlife refuge, while others speculate that it could be water rights he's after, given its scarcity in the West. However, Malone himself offers a different perspective. He believes that now is the ideal time to invest in land due to low borrowing costs and prices. He also considers land a reliable hedge against currency devaluation.
His rationale makes sense. Land is a finite resource, and as the global population approaches the seven billion mark, the demand for land is only going to increase in the coming years. However, the cost of land can be prohibitive for many. That's why I decided to embark on an experiment to find out if it's possible to buy a plot of land for less than $100, making it more accessible to average individuals like you and me.
I scoured the internet, including classified ads, forums, and websites, to see if anyone was willing to sell a plot of land at such a low price. To my surprise, I stumbled upon an unexpected treasure trove of opportunities on none other than eBay.com. eBay has always been known for its eccentric and unconventional offerings, so it's not entirely surprising to find small tracts of land being sold for mere pennies. While most of these plots may not have substantial value at present, it does make you wonder – could a half-acre of land in the Utah boonies become valuable in the future? If you can acquire property below market value, who knows? Perhaps retail giants like Walmart may be interested in acquiring it from you when they exhaust their space for Supercenters.
It's important to note that these auctions are limited to domestic plots. If you have dreams of purchasing overseas investment property, you'll have to explore more traditional avenues. Here are a few screenshots of recent auctions that closed for less than $100:
A Few Tips Before You Buy...
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Read the Details: Before placing a bid, make sure to thoroughly read the auction description. Check for any back taxes or liens on the property, and inquire about closing fees. Some auctions may require only a down payment, with the remaining amount due later. Clarify whether your bid represents the final sales price.
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Consider Property Taxes: Many people sell land at low prices due to the annual property taxes they need to pay. The tax amount is typically based on the appraised value of the land. For a property worth a few thousand dollars, the taxes may only be around $30 per year. Nonetheless, it's crucial to understand the exact yearly expenses before making a bid.
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Secure the Deed: Once you've completed the auction and payment, ensure that you receive the deed for the land. If the seller fails to produce one, reach out to PayPal immediately to reverse the transaction.
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Patience is Key: While there may not be significant interest in your land right away, remember that buying land is a long-term investment. Stay patient and keep an eye on potential future opportunities.
Your Turn: Do you think land is a good investment? Do you have any plans to buy any?
Let's hear your thoughts! Would you consider investing in land, given its potential for value appreciation? Share your opinions and plans with us in the comments below. Land can be a fascinating and promising asset, especially when you can acquire it for $100 or less.
Remember, the world of real estate holds unexpected surprises, and you never know when a small plot of land could turn into something remarkable. Happy land hunting!