Simple Isn't Easy
Buying raw land isn't the most complex of investment vehicles, with very little of them having income statements or deferred maintenance. No pet deposits or leaking bathrooms, it the best investment on earth in our opinion.
With that said, comparable sales and valuations are not so simple as the house next door or the capitalization rate of a particular market for specific asset types or vintages.
This is where the art of land investing really shines, and also the reason we buy land in desirable areas and at prices that guarantee us that we can at least liquidate the parcel at the price we bought it at. This is usually done by working with real estate brokers in the area and pulling sales comps directly from the county. Superimpose the two sources of data and things become much more clear, when it comes to evaluating raw land as a whole in any area of a particular county.
Raw land is our favorite simply because it allows us to use our hard skills and experience to add to the art of such an investment class.