Buying land in bad times leads to pay dirt

By Dave Knospe

Hey Land Investors!

We came across this article the other day and thought you’d love it! Read on to see how some other savvy investors have turned a huge profit from buying land during the recession!

Buying land in bad times leads to pay dirt

In the depth of the recession, homebuilders stopped building. Sales offices closed. Buyers vanished. Developers mothballed housing projects.

But as the housing industry reeled from a global economic meltdown, Irvine, Calif.-based Standard Pacific Homes began to invest in the next housing boom.

By late 2009, the company had begun to buy land.

“If there’s a silver lining to the lousy market, it’s the land-buying market,” former CEO Ken Campbell said during a 2010 call with industry analysts. “[In] 2014, the market’s going to be good, and you need to buy the land now for 2014.”

By the end of 2012, Standard Pacific had spent $1.6 billion, accumulating almost 20,000 sites in seven states in three years. The company plans to spend from $600 million to $900 million more on land this year.

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