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Banking Land Is A US Property Option
July 1, 2009Article by Ray Withers
If a property investor is banking on making a profit out of the US, then laying away land is an option to consider.Land banking is not a new concept – the concept was made famous by Hollywood movie stars like comic Bob Hope who bought huge tracts of land on the outskirts of Los Angeles before the city expanded in the 1950s.
The strategy is simple:
* Buy the land somewhere in the line of a developing town or city
* Sit back and let the land go up in value
* Sell at a profit to a developer or develop the land yourself
The basis of the strategy is supply and demand in the area you are planning to invest in.
It’s no good buying marginal land or land that will never get permission for building, because the investment won’t appreciate.One place that might be of interest to a land banker at the moment is Myrtle Beach, South Carolina.
Myrtle Beach sits between Miami and New York and is the hub of the massive US ‘golf belt’ as the area is home to literally hundreds of courses.The state attracts millions of tourists every year – not only for the golf but also for the 60-mile Grand Strand beach, shopping outlets and theme parks.
Property Frontiers is offering South Carolina real estate at the Fairway Residence, a gated resort community set in the heart of the established Island Green Country Club at Myrtle Beach.Investors can secure a building plot at a pre-launch price of £21,000, exclusively through Property Frontiers.
The plots offer the opportunity to either land bank or to construct a luxury home and take advantage of the uplift associated with property development.Investors will have the option to develop their plots through a joint venture between Property Frontiers and one of South Carolina’s most experienced developers Tower Developments. Options will include three and four bedroom-detached houses.
Unlike many land development opportunities the infrastructure and luxury facilities are already in place, including a clubhouse, indoor and outdoor swimming pools, tennis courts, a fitness centre, and a business centre.Pre-launch land plot options available from £21,000 for a limited time only
Comparables on the same development are selling for $89,000 (£63,000).