Virtually every market in the country has a specific opportunity for wealth creation waiting for whoever is intelligent enough and aggressive enough to go after it. It is simple to identify, easy to understand and surprisingly painless to bring to fruition. Don’t just blow it off when you hear it how simple it is. People are making huge amounts of money from this process. I know. I have.
Here’s the program; find a property that has a lot large enough to divide off, buy the property then subdivide it. A small property on a large lot may be a real diamond in the rough. If you can buy an existing property on a large lot, you may be able to subdivide the lot to end up with both a property on a small lot and an additional building lot to boot. When this happens, you will find that the property now on the small lot will in all probability maintain its full market value (your purchase price) particularly if it is a residential property. The newly created lot will have its own market value and therefore be a simple creation of substantial new wealth. You then have the option to sell off one or both of the properties. If you end up with a home and a lot, you could sell off the lot and use the money to pay down the debt on the home and thereby have an increased net worth and an increased cash flow from a rental unit. Or, you could use the proceeds from the lot sale to buy another property and repeat the process. The options available are many.
To get started, as you drive around just keep an eye out for long corner lots, or lots where a home or other building is off-set to one side or the other. Once identified, you can do a little research with the City, County or Township about required lot sizes and if the property meets the necessary criteria to end up with two lots, then voila! A deal is waiting. In many areas current lot size requirements are much smaller than they were years ago when much of an area may have been built up. Sure there is the process of working things through with your local government, but when the lot you buy is big enough to divide, a huge profit awaits. This is only one of many ways to create wealth with real estate. Learn all you can so you can earn all you want. Have a great day. If we can help, we’d love to.