Land flipping is basically the buying of land for investment purposes. It is when someone buys land at a low price, holds onto it for a certain period of time and then sells it (the flip) at a higher price thereby making a profit. This type of real estate investment is profitable when land buyers buy land in an area that’s rapidly growing.

To make money on land flipping one needs to make sure he or she gets cheap or relatively affordable land in a good location that is percieved to be in demand in the near future.

What you should know: Studies have shown that although land flipping can be done in various cities across Nigeria, Lagos and Abuja have proved to be the best places to flip land. This is due to the high rate of expansion in the cities as well as the indirect and direct demand for land. 

Lagos especially has been proven to be a very good place to flip land not only in the country but globally. Studies reveal that property costs are certain to rise in the city from now to the near future thereby making it a brilliant place to flip property for investors. 

Before going into land flipping, there are certain processes you should undergo as a real estate investor so as to make huge profits from it. 

Research Extensively 

The importance of making your own research before buying land to flip cannot be overemphasized. You have to do comprehensive research on areas so that you can discover areas that have the ability to develop fast in the near future. 

The area of the land you choose to buy would determine how fast or slow you would sell. If the area is not going to develop fast you would have to hold on a little longer but if it’s a land in an area that is recognized and has the potential to grow faster then you know you would sell quicker. 

You can choose to either research on your own online although it is advisable you use a real estate agent. This is because real estate agents have more knowledge about real estate and they would help you find a better deal in the best neighbourhoods. 

READ MORE: The Best 6 Business Ideas For Vacant Land

Make Sure The Land You Buy Is Confirmed 

It is important that you confirm the rightful owner or owners of the land before you purchase it. Also, check if the documents are real by verifying from a property registry or lawyer. 

You want to avoid being duped or swindled so it is important you put all of this into consideration before purchasing land. Also, visit the property and inspect it thoroughly. Take note of the place, neighbourhood, environment, infrastructure, safety, soil structure or topography and so on. 

Improve the Land

For a faster or guaranteed land flipping or sale, you need to do anything you can to assist any prospective purchaser to determine the future potential and worth of your property. This could mean improving the land once you have it purchased and registered. Anything that can make the land more attractive you should do, whether it is to clear the region of weeds and dirt, or develop a road network for easy access to the property or even fence the tract of land, just do it. 

Use a Real Estate Agent or Broker To Resell the Land

You want someone that would help you price your land appropriately which is why it is important you enlist the services of an experienced real estate agent or broker. When pricing your property make sure you include all improvement costs along with a handsome profit. 

List across various platforms because the more platforms you market on, the broader your reach and the better your odds of finding a buyer quickly. Also put efforts in making your land attractive by taking professional photos, clear or drone videos and composing quality descriptions.