patrick.net

I'm thinking about buying vacant lots on the outskirts where building has exceeded maximum density and no more land is available.
I'm looking at 4 or 5 acre lots in South Central Florida and up in foothills of the Carolinas. I want to pick up about 5 $20K to $30K parcels and sit on them for a couple decades.

Tenpoundbass says

I'm thinking about buying vacant lots on the outskirts where building has exceeded maximum density and no more land is available.
I'm looking at 4 or 5 acre lots in South Central Florida and up in foothills of the Carolinas. I want to pick up about 5 $20K to $30K parcels and sit on them for a couple decades.

You will be glad one day. Land can appreciate at a much faster pace than homes.
Exactly 10 years ago I was scouting Florida for vacant land. I remember Lake Okebochee, which had a number of lots for sale. Did not buy as we were in the middle of the crash, but wanted to get a good idea about what was there in Florida.
Here is my 2 cents when it comes to land::::
Closer to the ocean, the better.
Close to or between 2 cities rising in population.
Near resort and tourist areas.
Areas that already have homes.
Residential lots.
View lots.
And most important my motto "Half or less" If I could get vacant lots at half or less than market value, I buy. Not easy. You won't get it through an agent. I would buy land owner lists, zero in on a target market, send very very creative and unique mailers to them with offers to buy. I would mention all cash, no broker commission, and some other stuff. Worked like magic. Some I flipped for twice the value, and some I would keep. I learnt a lot along the way from mistakes I made, but overall I did pretty good.
Good luck.

What are the taxes per year on the vacant lots? How much will that expense cost over 10-20 years?

You're pretty much in the area I'm searching. You should look again I've seen some good deals. I saw a good almost 5 acre lot for 22K, it was loaded with 100 yr plus Oak Trees. That's prime high and dry Florida land. I think after the Hurricane seasons we've had, Hardwood land will be a very prudent buy. Scraggly pines and cabbage palmettos and other low lying bush, is a sign of land that has been reclaimed from draining the swamp. It didn't raise the land. It is still susceptible to tropical flooding. Hardwood land was there when the surrounding land was still swamp. It's got to be a higher elevation.

The tax on the land in the towns I'm looking at is only a few hundred a year.

smaulgld says

What are the taxes per year on the vacant lots? How much will that expense cost over 10-20 years?

Same calculations as homes. Property taxes are based on purchase price and value. Prop 13 applies to vacant lots in California.

Tenpoundbass says

You're pretty much in the area I'm searching. You should look again I've seen some good deals. I saw a good almost 5 acre lot for 22K, it was loaded with 100 yr plus Oak Trees. That's prime high and dry Florida land. I think after the Hurricane seasons we've had, Hardwood land will be a very prudent buy. Scraggly pines and cabbage palmettos and other low lying bush, is a sign of land that has been reclaimed from draining the swamp. It didn't raise the land. It is still susceptible to tropical flooding. Hardwood land was there when the surrounding land was still swamp. It's got to be a higher elevation.

There you go. As a Californian, I would not have known that. Every time I have identified a potential area, I talk to the people in the area for all the ins and outs. Every area/region has it's own unique characteristics, and you gotta know them.

Gold and silver are not real investments. You must give up 1. dividends 2. interest 3. capital gains and be willing to accept 4. risk of falling prices.

If I felt the need to preserve capital I would buy an account in Swiss Francs.

Land can be useful if you have capital to buy it, but counties like taxing it to pay their costs of educating, incarcerating, medicating, and firefighting for the residents. Land also isn't very liquid.

clambo says

Gold and silver are not real investments. You must give up 1. dividends 2. interest 3. capital gains and be willing to accept 4. risk of falling prices.

If I felt the need to preserve capital I would buy an account in Swiss Francs.

Land can be useful if you have capital to buy it, but counties like taxing it to pay their costs of educating, incarcerating, medicating, and firefighting for the residents. Land also isn't very liquid.

you also pay storage and insurance fees.