Why am I in business? The answer is simply because vacant land, especially rural vacant land, is a nuisance for many people who own it. Land can be beautiful, but it does not produce rental income or dividend or interest payments unlike most other asset classes. It is possible to make some money from land, but it is not practical for most people who live far away from it. I created my business in response to those who cannot justify having their money tied up in an unproductive and illiquid asset. With the exception of Real Estate Investment Trusts (REITs), real estate is the most common illiquid asset class, which just means it takes a lot longer to convert real estate into cash than it would for CD’s, stocks, money in a checking account, or bonds. Rural land, which has more supply than demand, may be the most illiquid category of real estate. Most people I encounter looking to sell their land have no plan to use their land or they just wish to put their money elsewhere, such as in a new home, the stock market, or just a vacation.
I will buy property anywhere throughout the United States, but I specifically target areas along the east coast because of the higher expenses associated with both owning and selling real estate. These areas have high property taxes relative to almost anywhere else, and the higher closing costs make selling unwanted land even costlier. Most states on the east coast require a lawyer to be involved during real estate transactions. Many closing costs are fixed, which means they do not change regardless of the land’s value. The closing costs can sometimes be more than half the value of smaller plots of land! The most expensive costs tend to be for the lawyer (depending on which state the land is in), the title fees, the perc test, the inspection, the survey, and the deed recording costs, among other. As part of my business model, I cover all closing costs when you sell your land, including the legal fees. Basically, I am in business for those who see value in conveniently trading in their unwanted land for cash without the stress of a typical real estate transaction. There is another segment of the population who choose other methods to sell their land. There are other methods that will allow you to sell your land, but it will require time, effort, and negotiations. My process of buying land is quick and effortless for you.
You must wonder why I would want to purchase your land if, after all, it is an unproductive asset. Since there could be multiple reasons for why I may purchase a specific parcel of land, I cannot give a “cookie-cutter” answer. In some cases, I am seeking land in specific markets for the purpose of long-term appreciation in value. In other scenarios, I will look to resell the property. If I am looking to resell the property, I can contact my network of potential buyers throughout the country. I also put hours into marketing each property to properly market it through dozens of different real estate advertising platforms based on its best usage. I may take one hundred calls and receive countless more emails on a piece of property before I find a serious buyer, and I do this all without a realtor’s help.
I personally never use real estate agents for selling land because real estate agents are just not motivated to sell small plots of land, and it makes total sense when you look at the economics. Agents are paid by commissions. In smaller land sales, agents typically earn 10%. For example, on an $8,000 sale of a plot of land in upstate New York, the commission will be 10% or $800. However, there are typically two agents in each real estate transaction, and so the commission gets split in half between the buyer’s agent and the seller’s agent. That leaves $400 for each agent, but they must next give up a good chunk of that $400 to the brokerage holding their license. If the agent must give 40% to their office, then that agent will have made only $240 in earnings on that land deal. $240 is not a great return on something that can take 18 months to sell. It also does not leave the agent a big budget for advertising. That may explain why you rarely see vacant land being advertised in those glossy real estate magazines. When I sell land, I do all the work myself. If I am not able to physically visit the property, I hire people to visit the land to answer some of my questions and also take professional photos.
Land in2 Cash, LLC is like any business in that it tries to make a profit, but like any business, it was started out of a need that I felt was not being properly taken care of. Our value to you is that we take away the pain of owning and selling vacant rural land. We essentially transfer the risk of owning such an illiquid and unproductive asset very easily to ourselves so that you can comfortably move on with your life.
Thanks for reading. Do not hesitate to ask any questions that you may have through the “Contact Us” form on the top of this page.