Rural Real Estate Investing

I see so many rural cheap houses and mobile homes for sale as foreclosures. Many of them on 2-10 acres of land where the land is worth almost that much, I'm talking $20-50,000.

I've been very close to pull the trigger on some but I haven't yet. I'm waiting to find something on 20+ acres I can rent out and then use the land for recreation, preferably something on a pond or river. But no luck so far.

I'm tempted to put an add on Craigslist for a mobile home for rent to see what kind of bites I get.

If you know the market and don't mind the drive, I definitely think there is money to be made.

It really depends on whether or not you are trying to "flip" rural land, or hold onto it and let it pay for itself (in hopes the land value alone goes up). If you get a sizeable amount of acreage, you can make money to pay the taxes via hunting leases. You can also plant pines to harvest for timber, or get grants from the National Resource Conservation Service for growing and maintaining trees. There are plenty of other agriculture grants out there as well.

While trying to "flip it" can be risky and tough, investing in land and finding a way for it to pay the taxes can be very lucrative.