Velur Land Banking Seminar: Land Banking in Antelope Valley
Seems that land is still a great investment in the Lancaster/Palmdale area, if you pick the right location. Where have we heard that before? Location, Location, Location.
For now the right location seems to be around the developments that have already been approved and are waiting to break ground. Whether this is a commercial development, light industrial, or Residential master planned community.
The last time I was in Lancaster/Palmdale was over 5 years ago when I observed an case with an electrophysiology lab (yeah, my day job). A former colleague of mine bought land in Agua Dolce, in the high desert on the way to the Antelope valley, about 10 years ago for $250K. Her husband built a very beautiful and rustic log house (about 3000 sq ft), with high ceilings and sun-filled windows. They have 2 or 3 acres of rolling hills for a backyard. The property is now well over a $1M.
Velur, LLC has a staff of brokers and agents, and stays involved after the sale. Typically people are getting offers 4 to 5 years after they buy. Velur negotiates a sales price for you. Apparently land valuation is not for newbies. To really get top dollar, you need the backing of someone who really knows this trade.
Overall I liked the people and proposals made by Velur. I hope to do business with them.
My one doubt is around whether the incline in prices seen over the past several years will continue in the near term. To this Velur replied that the land market is still doing well, despite weakness in existing home inventory. Now is a good time to buy since RE is not "in."
Seems that land is still a great investment in the Lancaster/Palmdale area, if you pick the right location. Where have we heard that before? Location, Location, Location.
For now the right location seems to be around the developments that have already been approved and are waiting to break ground. Whether this is a commercial development, light industrial, or Residential master planned community.
The last time I was in Lancaster/Palmdale was over 5 years ago when I observed an case with an electrophysiology lab (yeah, my day job). A former colleague of mine bought land in Agua Dolce, in the high desert on the way to the Antelope valley, about 10 years ago for $250K. Her husband built a very beautiful and rustic log house (about 3000 sq ft), with high ceilings and sun-filled windows. They have 2 or 3 acres of rolling hills for a backyard. The property is now well over a $1M.
Velur, LLC has a staff of brokers and agents, and stays involved after the sale. Typically people are getting offers 4 to 5 years after they buy. Velur negotiates a sales price for you. Apparently land valuation is not for newbies. To really get top dollar, you need the backing of someone who really knows this trade.
Overall I liked the people and proposals made by Velur. I hope to do business with them.
My one doubt is around whether the incline in prices seen over the past several years will continue in the near term. To this Velur replied that the land market is still doing well, despite weakness in existing home inventory. Now is a good time to buy since RE is not "in."
4 comments:
HI Reenu,
Thanks for attending our land seminar last night, and was able to learn more about Velur and what our Company has to offer. Definitely land banking is one way of creating wealth and building net worth for retirement. It is a low maintenance, headache free investment you can ever have. As mentioned in our seminar, our goal is to find good parcel locations for our investors.
Look forward to going for a site tour soon :)
If anyone is interested in attending a land investment presentation, they could reach me at vergara@aol.com.
Thanks!
Prudence.
Thanks Pru! It was a very nice meeting and I'm looking forward to getting started.
I am curious - did you ever invest with Velur?
I found this youtube podcast to be a good outline on the positives and negatives of investing in trust deeds. The speaker is able to highlight many limitations of trust deed investing which I think will be helpful for investors looking to go into this type of investing with realistic expectations.
http://www.youtube.com/watch?v=aGp1t2ihz3U
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