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| location location location
and your pocketbook as it pertains to risk/reward and your tolerance for stress
I have bought cheap ground in a soft market, I have bought cheap ground in a strong market, I have bought expensive ground in a strong market, I have bought expensive ground in a soft market.
in all those instances it didn't matter. they all served a purpose and worked and made money.
every piece of ground has + and - 's that mean different things to different people
I watch land price trends but do not let them dictate decisions. they are only used as a reference point for risk/reward as it relates to time value of money and future potential.
the old saying in real estate especially housing is location location location. I think if you apply some of that to land purchases you can save yourself a lot of headaches.
basically I look at a piece of ground and evaluate what it looks like in 10 years. If in 10 years it hasn't done its part to pay its way and I wanted to dump it quick, does it have enough curb appeal to hold its value and be liquidated.
of course there are always special cases, and in those situations you have to decide, good or bad or ever.
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Buying land?
