Purchasing real estate as an investment has helped many Americans succeed in building wealth for their families. But not all investors are prepared to take on the commitment and financial responsibility involved in managing tenants and keeping structures in good condition. Luckily, investing in vacant land instead of more heavily developed properties, can still be very lucrative while offering a much less labor-intensive management process. However, investing successfully in vacant land can still mean taking some simple steps to protect and promote the value of each property. If you already invest in vacant land or are considering doing so in the near future, here are some important tips to help you succeed.
Take steps to limit access
One of the first things you can do to protect the value of large or small tracts of vacant land is to restrict access to them. Vacant properties often attract loiters and people who illegally dump trash, old furniture, used auto tires, and other difficult to dispose of items. Vacant land investors who want to avoid the potential of this type of unsightly or even illegal behavior can reduce the risks by taking steps to limit access to the property.
Good ways to easily limit access to a vacant property include:
- installing gates or barriers at each entrance and exit to prevent unauthorized people from driving a vehicle onto the property
- posting signage to discourage trespassing
- installing a solar-powered security camera at entrance and exit points to the property
Loiters and those who want to dump trash or engage in illegal activities will often avoid properties that appear to be secured and protected, as outlined above, to reduce their risk of being caught.
Perform regular maintenance to keep the property looking neat and attractive
Even the most barren of properties can quickly take on the appearance of a brushy, neglected field, especially when overgrown by briers, bushes, and weeds. Performing regular property maintenance, such as brush hogging, mowing, and weed eating will help to keep the property looking its best while also helping to prevent overgrowth of vegetation that could affect the property value. Additionally, keeping the ditch lines and fence rows neatly mowed can make the property and the entire neighborhood more attractive and help to increase property values throughout the area.
Investors who lack the time to handle this type of property maintenance on their own can contact a reputable land maintenance company like H and H Land Management for assistance in keeping their vacant properties neat and attractive.Share