Where To Buy The Cheapest Land
You might be wondering where to find the cheapest and best land for investing. I'm going to break that down for you. But before we get into that, I just launched my new video series- How To Buy Land Really Really Cheap. It’s $149 and full of great info and resources. The course covers how to assess an area to find the best deals, find deals that you can flip for profit, connect with people and make low ball offers, and take the deals down. Most importantly, I’ll teach you how to fund these deals without using your own money. So if you're interested in purchasing land really cheap using alternative methods, check this series out.
Top Three States For Cheap Land
Now let’s go over where you can find the cheapest land to flip for profits. As we all know, you can go to almost anywhere in the Midwest Rust Belt area and buy lots for $1 to $100. But the problem is they aren’t always good investments or flips. Maybe you can sell it, but buyers will not be on your side. Not enough people will be interested. So you want to find deals really cheap that will have massive buyer pools. That way, you can exit these deals with a profit. So if you go to Google and type in “where is the cheapest land located,” Google will come back with the top three plus a couple more. Right away, you’ll see Arkansas, Tennessee, and West Virginia. Then after that, there’s New Mexico and Arizona. Those two states are very popular as well.
Let's dive into the top three. Now I've never done deals in Tennessee or West Virginia, but I would say put Tennessee on your radar for sure. That state happens to be one of the main migration areas right now. People are leaving big cities for lifestyle, political, and tax reasons and relocating to places like Tennessee. The third state is Arkansas. You could get deals there ridiculously cheap, like under $100. These low-cost deals flip for a nice profit. All this is fantastic, but my beef with Arkansas is the deed filing process. Each county is slightly different, and they have additional steps they want you to take. They also have something called tax stamps that you have to purchase to file the property. It can be a pain because nobody at any of the county offices is the least bit helpful on how to acquire these stamps. They want you to either show up and do it in person or have someone in the area file it for you. So that’s what I did for many years. Then a friend of mine told me about a way to purchase them online. It's crazy that you have to dig deep online to find these tax stamps, but you can buy them online. Then you send the stamp in with the deed and get everything filed and transferred so you can make money.
Beware Of Intricate Filing Processes
So yes, you can buy property ridiculously cheap. But places with an intricate filing process can be a headache. It’s not too crazy once you get in the swing of things, but if it's your first few deals, I think it's better to start in places where it's cut and dry. Then you can simply sign the notarized deed and send it in with a $25 filing fee, and you're done. Places that are easy like this are New Mexico and Arizona. I've done hundreds of deals in the state of New Mexico. You can get deals there for $200 to $500 if you do direct mail marketing. Also, if you're a great negotiator, you can get great deals from wholesalers, cold calling private sellers, and things like that. But ideally, doing direct mail marketing and sending massive amounts of low ball offers will give you good odds and get you the best deals. Once you purchase a property, you're going to get the deed. It’s usually pretty simple. You sign and notarize that they're transferring the property to your company. Then you send that into whatever county in New Mexico for filing with a $25 check for the filing fee. When everything's done and good, it's transferred, and you have tons of exit strategies. You can find people who want wholesale pricing and sell it for $700 to $900 really quick. You could also do seller financing, which is my favorite method. Offer the property for $25 down and $25 a month for as many months as your heart desires. Now you get a nice passive income stream.
For Arizona, I want to give you some in-depth details on the process. This process consists of what I just said for New Mexico—prepare the deed, sign, and notarize. But there’s one more step in Arizona. They have something called an affidavit of value form that you also have to fill out. So here's how the process works—when it’s time to cash out, fill out the deed and the affidavit of value with all your info and the buyer’s info for the property. Then sign and notarize the deed and the affidavit of value. Then you can send all those docs to the county for filing. Now I could be off on this, but I think their filing fees are somewhere in the $30 to $45 range.
Wrapping Up
So, where you can find land ridiculously cheap depends on what you consider ridiculously cheap. I’m talking about deals far below the retail value that you could profit on fast. The point is cheap land is found everywhere. It just depends on your marketing strategy. But when you're getting into the land investment game, if you are a complete newbie, then take the time to start with a couple of small deals to get your feet wet. You may break even, you may profit, or you may even lose a little bit of money. But going through the process on a deal that costs you a few hundred dollars from start to finish will totally boost your confidence. Then you can do bigger and bigger deals as you go. So get in the game. You can find cheap land everywhere. It's all about your marketing strategy, where you locate property, and who you're targeting to make the offers.
Check out my YouTube channel if you’re interested in more land investing tips. Also, if you have any questions about the land investing business and need some coaching, shoot me an EMAIL or check out landflippingmichael.com. Then, we can see if we are a right fit for each other and lock you in for a coaching call.
