When most Nigerians think about investing in real estate, they think in terms of structure –fixing and flipping houses, or owning commercial or residential rental properties –and most people overlook the idea of investing in vacant land. Though perhaps it’s not as “sexy” as owning a rental property, vacant land deals have immense cash flow potential. Here are a few reasons why.

There’s Nothing to Replace or Renovate
When you buy a vacant land, there is nothing you need to repair or renovate. There’s nothing that can be stolen or anything that needs replacement. And you are not buying it to build anything on it, so you don’t need to have knowledge or skill in construction or subcontract with anyone who does. Your primary concern is if the land is suitable for building –if someone else can build on the parcel, then you’re already ahead.

There’s no competition
The majority of real estate investors are going after structures –houses, apartment buildings, and commercial property –and they are competing with everyone else who are bidding on the same deals. There are far fewer people who understand the advantages and benefits of investing in vacant land; hence, there is much less competition in this niche.

Very Cheap
Compared to commercial or residential structures, vacant land can be ridiculously inexpensive. It’s not unusual to find deals you can purchase with a modest amount of your own money (a few thousand, compared to tens or hundreds of thousands). So, unlike investing in houses, you don’t need to get involved with a bank, Mortgage Company, or even a private money lender for a vacant land.

There’s no maintenance and no emergencies
Because there’s no structure, you’re not dealing with renters or rent collection. You don’t have to pay a property manager, a gardener, or plumber. You’ll never receive a call a rainy Sunday night about a leaky roof or a cold furnace.

Vacant land is not demanding. It doesn’t skip out on the rent. Its well behaved investment that mostly just sits there quietly, often located hundreds or thousands of miles away, allowing you to get rest of mind.

You can create income with vacant land
Depending on the location and type of land, you may be able to rent all of the parts of your land to telephone companies and put up a cell phone tower. In some areas you might be able to lease the land to hunters during hunting season or to farmers to graze their herd.

Statistically, vacant land owners are highly motivated to sell.
The reason behind this particular assertion is that more often than not, vacant land surfaces because the owners don’t have plans of living in them; there is less of an “emotional connection” –because it isn’t their primary residence. In most cases, you’ll find that these sellers are willing to sell their land for pennies on the dollar –simply because they don’t live anywhere near it, it’s not producing any income for them (because they don’t know how to optimize their land correctly) and as a result, they are much more apathetic about it. Find these people, and you will find some incredible deals.

Land is very inexpensive to own as a long-term investment.
When you buy a piece of land for the right price, there are no mortgage payments to make , no utility bills to pay, the cost of property insurance is nominal (if you have it all) and property taxes are very cheap. If you want to “park your cash” somewhere and forget about it, vacant land could be exactly the investment vehicle you’re looking for.

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