Why We Love Buying Tennessee Land in Cash

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Why We Love Buying Tennessee Land in Cash
By

Bart Waldon

From the Great Smoky Mountains to the bustling streets of Nashville, Tennessee has captivated the hearts and minds of land investors across the country. Known for its music, whiskey, and down-home southern charm, Tennessee offers a lot for land and real estate buyers. We at Land Boss have found the state to be a prime location to purchase properties using cash. Here's a deeper look at why we love buying Tennessee land with cold hard cash.

Natural Beauty Makes Land Highly Desirable

One of the main reasons Tennessee has been on the radar of so many land buyers is its abundance of natural beauty. From the Appalachian Mountains in the east to the Mississippi River valley in the west, gorgeous scenery can be found across the state. Places like Gatlinburg and Pigeon Forge have absolutely exploded in popularity thanks to their proximity to the stunning Great Smoky Mountains National Park. The pristine lakes and rivers, lush forests, and cascading waterfalls offer unlimited opportunities for outdoor fun. Properties that provide access to nature tend to increase in value over time as more folks want to live closer to natural amenities.

Low Taxes Help Keep Carrying Costs Manageable

Another major perk of buying land in Tennessee is the extremely low property tax rate. At just 0.28% of assessed value, Tennessee has one of the lowest effective tax rates in the U.S. This really helps investors keep their expenses low when holding raw land or vacant property. Until you develop the land or build real estate, the costs are minimal. As any smart investor knows, keeping recurring overhead and taxes modest really improves investment margins.

Job Growth and Migration Drive Up Demand

Some of the largest cities in Tennessee, including Nashville, Memphis, Knoxville, and Chattanooga have experienced rapid population growth in recent years. Many folks are moving to Tennessee chasing job opportunities, relative affordability, and an overall excellent quality of life. Areas located within reasonable commuting distance of major urban employment centers tend to see property values increase in sync with population trends. With Tennessee's business-friendly environment, more and more companies are relocating here, bringing new residents with them. This ongoing migration and job growth lead to greater housing demand, naturally driving up land prices.

Natural Resources Mean Big Profit Potential

For savvy investors, another appealing factor is Tennessee's abundance of natural resources. The state has large deposits of coal, zinc, copper, limestone, and marble throughout its landscape. Areas rich in mineable natural resources provide opportunities for extraction operations. Landowners who possess mineral rights under their properties can lease those rights to mining companies and profit from royalty payments. Sitting on undeveloped natural resources is like owning a potential goldmine if valuable deposits are discovered down the road.

Tourism Dollars Flow into Local Economies

Love it or hate it, tourism represents big business in the state of Tennessee. From Graceland and the Memphis music festival scene to Jack Daniels distillery tours, tourists flock to landmarks and events across the state. In 2021 alone, Tennessee saw over $24 billion in tourism revenue. High tourist traffic areas make advantageous locations to own hotels, restaurants, shops, and other businesses aimed at travelers. Owning the underlying land in developing tourism spots can really pay off in the long run.

Ideal Conditions for Commercial Development

As Tennessee's biggest cities keep expanding, they need more and more land for stores, offices, and developments to support all the growth. This creates lots of demand for commercially zoned properties near major highways, interstates, and population centers. These types of properties have awesome future potential as the market evolves over time. Land near infrastructure and people is bound to increase in value. Commercial land in the right locations today can turn into goldmines down the road. But patience is key - the perfect buyer or tenant may not materialize overnight. Sitting on the right development site at the right moment is how big profits are made.

Strong Farming Heritage and Fertile Land

Ever since Tennessee first took root, agriculture has been a central pillar of the state's economy. The land here tends to be high quality with fertile soil perfect for growing staple crops like corn, soybeans, hay, and more. Plus there's great grazing terrain for cattle farming. Compared to other states, quality Tennessee farmland remains decently affordable and can be leased out to produce yearly income. As the world population grows, demand for food climbs higher. So quality crop-producing land is likely to appreciate over the long run. For investors, owning good farm acreage can mean yearly leasing revenue plus long-term equity gains as values increase. It's a winning combination.

Rural Land Offers Recreation Potential

From its mountains to plains, Tennessee's diverse landscape provides endless recreation possibilities. Outdoor lovers flock here to hunt, fish, hike, camp, ride ATVs, and just experience nature. Rural land holdings that offer access to wooded areas, lakefronts, streams, trails and open space can sell for big premiums. Buyers recognize the inherent value of rural acreage with recreation potential. Land that allows enjoyment of Tennessee's natural splendor brings great prices.

Diverse Geography Provides Flexibility

Tennessee real estate varies tremendously based on geography and climate. You've got the mountains near Knoxville, the Mississippi River valley by Memphis and everything in between. As investors, we love how this diversity lets you match land to different uses - farming, mining, housing, recreation, industry, timber - you name it. Strong property rights laws also give owners flexibility in developing or utilizing their land. It's this blend of diverse landtypes and landowner freedoms that make Tennessee so appealing for investing.

To wrap it up, Tennessee has the total package for land investors - beautiful nature, low taxes, growing population and business climate, valuable resources, tourism dollars flowing in, development opportunities galore, and the flexibility to use properties in many ways. Our team at Land Boss has bought and sold land all across this great state for years. If you're considering selling your Tennessee land for cash, contact us today. We make fast, hassle-free offers and can close quickly.

Should You Invest in Tennessee Land in 2023?

Tennessee has long been a popular destination for real estate investors and land buyers. From scenic mountains to vibrant cities, the Volunteer State offers diverse opportunities. As we enter 2023, you may be wondering if Tennessee remains a smart place to put your money into land. Here are key factors to consider when deciding whether to buy Tennessee land this year.

Steady Population Growth

Tennessee has seen consistent population growth over the past decade, concentrated in major metro areas like Nashville, Memphis, Knoxville, and Chattanooga. More people moving to the state increases housing demand and development, which lifts land prices. This trend of in-migration is expected to continue in 2023.

Thriving Job Market

Major companies like Amazon, Volkswagen, and Oracle have brought new jobs to Tennessee cities. Many families are relocating for employment. This corporate expansion shows the state's business climate is healthy, boosting the real estate market.

Tourism Rebound

Tennessee's vital tourism industry was hit hard by the pandemic but has rebounded. Last year already saw signs of recovery with attractions like the Great Smoky Mountains and Graceland seeing more visitors. Further tourism gains will positively impact land values.

Overall Affordability

While land prices are rising in high-growth areas, Tennessee remains affordable relative to many other states. Investors can still find good deals on vacant plots, farms, and acreage compared to crowded coastal markets.

The economic outlook remains positive for Tennessee in 2023, making land investment appealing. Do thorough research and perform due diligence before purchasing any property. Consult a qualified real estate professional for guidance on smart Tennessee land investments this coming year.

Final Thoughts

At the end of the day, purchasing Tennessee land with cash offers many perks for real estate investors. From natural beauty and recreational appeal to commercial development opportunities and agriculture potential, Tennessee provides diverse options in one attractive package. The state continues drawing new residents and businesses which bodes well for land values over the long term. While always maintaining responsible due diligence, investors who buy quality Tennessee land at a good price will likely profit. Here at Land Boss, we plan to continue seeking out the best land deals across Tennessee in 2023 and beyond. The state has captured our hearts, and for good reason. Cash purchases just make sense with Tennessee's stability, affordability and promising outlook. For anyone considering Tennessee land investment, tread carefully but seize promising opportunities. The Volunteer State remains ripe for those seeking land to acquire and hold for appreciation.

Frequently Asked Questions (FAQs)

What are the benefits of purchasing Tennessee land with cash?

Paying the full purchase price in cash provides flexibility in negotiations, speeds up the closing timeline, and avoids financing contingencies. Cash buyers also gain leverage to potentially buy at a lower price.

What types of land make good investments in Tennessee?

Strategic parcels for commercial development near growing cities, recreational rural land, farmland with rich soil, and timberland with harvestable trees can provide strong returns.

What should I research before buying Tennessee land?

Lookup zoning restrictions, make sure there are no liens or back taxes owed, inspect the property boundaries, evaluate access and utility availability, and confirm any mineral/water rights included.

What are signs of a promising up-and-coming area in Tennessee?

Look for new housing and commercial construction, road/infrastructure improvements underway, announcements about major new employers coming, and proximity to expanding tourist destinations.

Who should I work with when buying Tennessee land with cash?

An experienced real estate attorney can help review documents and close the purchase smoothly. A land broker familiar with the local market can help you identify and evaluate high-potential properties.

About The Author

Bart Waldon

Bart, co-founder of Land Boss with wife Dallas Waldon, boasts over half a decade in real estate. With 100+ successful land transactions nationwide, his expertise and hands-on approach solidify Land Boss as a leading player in land investment.

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