Buying land - location location location

[italkcash]

Buying land has always been a good way to get rich if you find the right spot. Having a spot today in Vegas, Macao or London makes you a millionaire over night if you want to sell at todays prices. But of course, nobody is that lucky, so now we are back to the basics again. Where to buy land? What do you think is a good location that can grow to a big potential within a few years? The next boom so to speak.

[id62000]

I agree. Location is important. I would recommend sites that are close to or on the outskirts of metropolitan cities, as these cities tend to expand outward.
I know someone who bough a piece of land for 25 lakhs and sold it off for 48 lakhs in just a month. Location is important.

Is buying land in Vegas, London, Paris or New York possible if you're not a citizen of that country?

[business]

Originally Posted by id62000

Is buying land in Vegas, London, Paris or New York possible if you're not a citizen of that country?

It depends on the laws of that country. Some countries do not allow aliens to buy land.
But there are shortcuts to that. One has just to float a company in that country and buy land in that company's name. It's easy.
Many developed country citizens go to developing countries, and float a company. They take best advantage of the resources available, buy lands, build stuff, and make a fortune. They have a superior insight to that country's perks. They also have connections from their own countries that highlights their services to that of the country's own.
They also know the best locations... their study will be from a 100% economical view. Best places to buy cheap land, and make a fortune.

[mbongwe]

Location is very important, but there are more ways to make great profits from land investment - doing improvements, changing purpose, building on it etc

[id62000]

Originally Posted by mbongwe

Location is very important, but there are more ways to make great profits from land investment - doing improvements, changing purpose, building on it etc

Yea. In my country, majority of the lands are for agricultural uses (and will be registered as such). So even if one buys them, you have to change it to commercial land by going through some procedures with registrations with the government. This improves land value near cities.

Building residences is a good idea. But Malls or shopping centers are also good idea. Depending on location of course. Everyone's first preference for residence would be in the heart of the city/town, where there's quick access to markets, hospitals, religious centers etc etc etc.