http://chullett2.wordpress.com My home on the web Fri, 15 Jan 2010 02:37:59 +0000 en hourly 1 http://wordpress.com/ http://s2.wp.com/i/buttonw-com.png http://chullett2.wordpress.com http://chullett2.wordpress.com/2010/01/15/sounds-like-a-good-idea/ http://chullett2.wordpress.com/2010/01/15/sounds-like-a-good-idea/#comments Fri, 15 Jan 2010 02:37:59 +0000 chullett2 http://chullett2.wordpress.com/?p=4 ]]> I recently read an article in the local paper about state law that put tax abatements on new land purchases. Our state has been hemorrhaging residents since the death of the local industry. However, in the past few years, a local technology sector has begun to spring up in the downtown area. This has attracted many young professionals to the area who have a lot of disposable income from their large salaries. An investor friend of mine explained how he was thinking about dumping a large portion of his portfolio into land investments that are strategically very valuable. Right now, the lots sit empty with a few trees on them and some wild plant growth. Other than that, there isn’t much in the way of any life on the lots. However, the location is key if the technology sector grows more. It is within walking distance of the light rail station. It is also in an area adjacent to a wonderful public park. The best thing is that the tax abatement on new land purchases would make the land virtually costless to investors. There would be no fees for the value of the property for a few years. So we could just sit on the property and wait to see what happens with the business growth. Also, the land has had the same value for about 10 years so there is not much worry about losing money on the investment. It sounds like a win-win situation. I just need to find someone who is knowledgeable in land purchases to get all my ducks in a row.

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