Undeveloped Land in High Demand
OtherInvestors have a new target in real estate: undeveloped land. They’re snatching up undeveloped land heavily discounted in bankruptcy proceedings from developers and banks that foreclosed on the builders once they ran out of money for their projects, Reuters reports. The investors then resell the land for up to 20 percent or more returns on their investment. Or, in a buy-and-hold strategy, the investors partner with homebuilders to develop the land. “We are coming out of the mother of all […]
