Sunday, October 3, 2010

Sell Your Land When You Need Cash

Maybe you are getting close to retirement or maybe you have retired already. In either case, all the years you paid into a 401k didn’t give you the nest egg you were hoping to have by now. So now you’re a little concerned whether you have enough put aside to live comfortably. You certainly don’t want to go back to work. You’ve done your time with the 8 to 5 ritual. This is supposed to be your time to kick back and relax. So what can you do?

Perhaps your friend came to you with an investment that could make you a quick buck with a high return. Trouble is you need some cash to pay into the investment first. Well, remember that parcel of land you purchased years ago? You had thought about building on it and moving there when you retired.

Or maybe now your health conditions have changed. That land is in a climate you or your spouse can’t tolerate. Maybe it’s too dry or too damp. Or maybe it would just be too far from the family. So why not sell it? Yes, sell that land and take the cash to use for that investment! That land is just sitting there, probably costing you more money every year with taxes, not to mention the upkeep. Yes, the market is down now from where it was a year or two ago. But it is still higher than what you paid for the land all those years ago.

So sell now before the market drops any more then take the cash and invest in something that will get you a quicker return. By doing some research on-line you will find there are network of real estate investors in every part of this country. They have cash and they are looking to hand that cash over for raw, undeveloped land. They may want to develop a housing sub-division or maybe they see the possibility of a shopping center. They have the resources and knowledge to act on that information.

You most likely don’t have the resources or the knowledge and experience to do anything like that with your land. Now that you’re retired, do you want to take on such a project anyway? Probably not! So take the easier road out of town, sell the property, take the cash and get that investment going today! You can be living your retirement years on a thicker nest egg with one less worry – a piece of raw land that’s just sitting there!

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