As most of you know, we’re certainly in a buyer’s market. Now is an excellent time to purchase real estate investments. If you’re searching for South Carolina hunting land for sale, now is definitely the time to get aggressive about your real estate needs.
There are many reasons why real estate is a great investment. Let’s assume you ultimately want to purchase a farm. If you put your money in savings or buy stocks, you’ll have to use after-tax money to buy your farm. The government takes a minimum of 15-25% of the return you receive on your earnings. If you purchase real estate as an investment, you will be able to transfer the equity from your property investments to the farmland you purchase and defer the taxes indefinitely. You won’t have pay the tax obligation until the final liquidation of the farm, which means if you keep it your whole life, the tax consequences become irrelevant.
If you are a young aggressive investor, you’ll want to look for vacant land with development potential. Purchase with as little cash as possible and use time to seek development approval before paying off. If you are flexible as to where you can live, use your buying power to purchase your residence with extra property attached to it. Down the road you can subdivide off the extra property to sell to put towards your farm or other real estate investment.
Ideally, if you’re looking for a farm, but also would like hunting land, you can find a property that offers both. Many farms also have lots of hunting potential.
By purchasing any high quality investment real estate, you will be closer to owning your farm. When selling your investment property to purchase your farm, use the IRS 1031 Tax-Deferred Exchange rules to transfer the investment property equity to the farm. The Land Specialists at Elliott Recreational Properties are here to help you make good decisions and great investments. Owning recreational property is an investment in itself giving you a continuous source of personal enjoyment as well as future income potential should you decide to sell.
Take advantage of the buyer’s market and take the first step today!