Resale is simply buying property or land for sale, and then selling it to someone else. The intention is to make a nice profit in the process. Resale does not necessarily mean improving the property or land, although you might find that lucrative in some cases. Sometimes, just finding that person who wants the land for sale you have to offer is one of the most important factors. Here are 4 keys to the art of resale.
1. Use your imagination
If you have a piece of land for sale that has no obvious purpose, brainstorm for some ideas on how it might serve a new purpose. For example, if you have an in-town lot that is too small to build on, but has access to water, you could come up with the idea to sell it as an urban farming site.
2. Research nearby owners.
People who live nearby might not know there is land for sale in their neighborhood. If they knew, they might be interested. You can present the land purchase to them as an investment in their community. Remind them that, when they buy the land for sale near them, they have more control over their surroundings.
3. Explore the possibility of making improvements.
You can make a nice profit from reselling land that you do not change one iota from the time you buy it from the time you sell it. On the other hand, you might want to do some improvements for a quicker sale or a higher profit. The two factors to consider most when deciding on whether to make improvements are (1) Is the land in an improved area, and (2) Will any improvements you make pay for themselves with profit to spare?
4. Look for that perfect fit.
Find what makes your land for sale unique and consider what kind of person would want land like that. Whether the land is near shopping areas, wildlife preserves or industrial buildings, think of who would be interested in that piece of land. Then, target your marketing efforts specifically to that person. You will find that if you discover the person who thinks your land for sale is a treasure, you will sell it easily.
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