Those Looking to Diversify Their Retirement Accounts Are Putting Their Faith in Land with Land Investment Resource Inc
Land Resource Investments’ mission is unique in the real estate field. Land Resource Investments leverages group purchasing power and their existing 401K funds to enable the individual to own prime pre-development land – a practice virtually unheard of 10 years ago. Since it’s beginning in 1999, the company’s mission has uniquely focused on securing prime pre-development land in the path of a community’s growth.
Reno, NV, May 22, 2009 --(PR.com)-- For Darren K. Proulx, it all started with a newspaper ad. The 19-year-old was enticed by an offer to buy land in California: a low down payment and only $100 per month.
Proulx answered the ad and started making payments on his very own piece of land. The only problem: his parcel was two and a half acres of Kern County desert that “had zero chance of ever selling to a developer,” Proulx said. “I never made any money on that project.”
He decided to dedicate himself to making sure others don’t make the same mistake by co-founding Land Resource Investments, Inc., a land banking company celebrating its 10th anniversary this year. Proulx, the company’s CEO, is now recognized as an expert in the subject and is the author of the 2006 book, “Pay Dirt: How the Individual Investor Can Bank Land for Great Profit and Avoid Shams, Scams and Worthless Real Estate.”
Simply put, land banking is buying land and holding it for future use or development. In this case, it’s buying land with the hopes of selling it to someone else who wants to develop it. The concept is not new. But Proulx’s approach is.
Land Resource Investments does the research and due diligence needed to identify a parcel that is in the path of growth and development. Population projections and growth plans are studied. What is the land’s proximity to water, sewer and power? Can you see new construction from the property? In short, the company will do everything Proulx didn’t do before he bought that first piece of land.
Land Resource Investments generates revenue in three ways. It buys land for less than what it charges its buyers. It offers financing. And it keeps $6 of the $23 monthly association dues.
Proulx’s current land-bank project is in North Los Angeles County (the Antelope Valley). Individuals can purchase an undivided interest of a large parcel for $19,500—they are issued a grant deed documenting their ownership. To date, the company has helped about 1,800 people purchase land in the path of Los Angeles’ sprawl. “You want to be in the path of growth of a major metropolitan area,” he said.
Proulx said about 80 percent of the people who have bought land through his company have used money from their IRAs. “Most people, including a CPA I recently met, don’t know you can put real estate in an IRA.”
He thinks more people should consider using 401K rollovers and IRAs to diversify their retirement account holdings, especially in light of the losses these accounts have sustained recently in the stock market. “They are just getting hammered by the market,” he said. “Most people’s best investment they make in their life is their home. And it’s not the house, it’s the land that goes up in value.”
Although Proulx is confident that land banking holds more promise than betting on the stock market, he is up-front about the risks involved. “We make no promises, projections or estimations,” he stresses. “We just help people buy land that they would not be able to buy without us.”
About Darren K. Proulx
Darren K. Proulx, co-founder and CEO of Land Resource Investments, Inc., has sold thousands of real estate interests since the company’s founding in 1999. Darren K. Proulx lives in Sparks, Nevada, with his wife, Janet, and their six children.
About Land Resource Investments, Inc.
Land Resource Investments’ mission is unique in the real estate field. Land Resource Investments leverages group purchasing power and their existing 401K funds to enable the individual to own prime pre-development land – a practice virtually unheard of 10 years ago. Since it’s beginning in 1999, the company’s mission has uniquely focused on securing prime pre-development land in the path of a community’s growth. Please visit www.landbanknation.com for information or call 800-628-9946.
###
Proulx answered the ad and started making payments on his very own piece of land. The only problem: his parcel was two and a half acres of Kern County desert that “had zero chance of ever selling to a developer,” Proulx said. “I never made any money on that project.”
He decided to dedicate himself to making sure others don’t make the same mistake by co-founding Land Resource Investments, Inc., a land banking company celebrating its 10th anniversary this year. Proulx, the company’s CEO, is now recognized as an expert in the subject and is the author of the 2006 book, “Pay Dirt: How the Individual Investor Can Bank Land for Great Profit and Avoid Shams, Scams and Worthless Real Estate.”
Simply put, land banking is buying land and holding it for future use or development. In this case, it’s buying land with the hopes of selling it to someone else who wants to develop it. The concept is not new. But Proulx’s approach is.
Land Resource Investments does the research and due diligence needed to identify a parcel that is in the path of growth and development. Population projections and growth plans are studied. What is the land’s proximity to water, sewer and power? Can you see new construction from the property? In short, the company will do everything Proulx didn’t do before he bought that first piece of land.
Land Resource Investments generates revenue in three ways. It buys land for less than what it charges its buyers. It offers financing. And it keeps $6 of the $23 monthly association dues.
Proulx’s current land-bank project is in North Los Angeles County (the Antelope Valley). Individuals can purchase an undivided interest of a large parcel for $19,500—they are issued a grant deed documenting their ownership. To date, the company has helped about 1,800 people purchase land in the path of Los Angeles’ sprawl. “You want to be in the path of growth of a major metropolitan area,” he said.
Proulx said about 80 percent of the people who have bought land through his company have used money from their IRAs. “Most people, including a CPA I recently met, don’t know you can put real estate in an IRA.”
He thinks more people should consider using 401K rollovers and IRAs to diversify their retirement account holdings, especially in light of the losses these accounts have sustained recently in the stock market. “They are just getting hammered by the market,” he said. “Most people’s best investment they make in their life is their home. And it’s not the house, it’s the land that goes up in value.”
Although Proulx is confident that land banking holds more promise than betting on the stock market, he is up-front about the risks involved. “We make no promises, projections or estimations,” he stresses. “We just help people buy land that they would not be able to buy without us.”
About Darren K. Proulx
Darren K. Proulx, co-founder and CEO of Land Resource Investments, Inc., has sold thousands of real estate interests since the company’s founding in 1999. Darren K. Proulx lives in Sparks, Nevada, with his wife, Janet, and their six children.
About Land Resource Investments, Inc.
Land Resource Investments’ mission is unique in the real estate field. Land Resource Investments leverages group purchasing power and their existing 401K funds to enable the individual to own prime pre-development land – a practice virtually unheard of 10 years ago. Since it’s beginning in 1999, the company’s mission has uniquely focused on securing prime pre-development land in the path of a community’s growth. Please visit www.landbanknation.com for information or call 800-628-9946.
###
Contact
Abbi PR
Abbi Whitaker
775-323-2977
www.abbipr.com
Abbi Whitaker
775-323-2977
www.abbipr.com
Contact
Categories