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The Risks and Dangers of Land Hacking: What You Need to Know
Land hacking strategies might be simple, however involve a unique set challenges. Land hacking and land development opportunities are difficult to finance, carry a burden of meeting stringent zoning and municipality requirements, and the costs of development can be prohibitive. However, if you can overcome these challenges, land hacking can be an exceptionally rewarding real estate investing strategy.
What is land hacking? Should it be your next real estate investing opportunity?
The term house hacking has become a mainstay in almost every real estate investors vocabulary. House hacking, whereby you find additional ways to create revenue sources from your house, is incredibly effective to maximize your earning potential of a house. Traditionally, you were always limited to your single family home in what was usually thought of an urban environment. What if you had more space - more land to use? More land could open up countless opportunities. Enter land hacking.