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Land investing involves purchasing raw, undervalued, or discounted vacant land and selling it for profit, which can be done through cash sales or owner financing. This strategy creates opportunities for investors by filling a gap in the market, particularly as banks often shy away from financing smaller amounts for land. Individuals can acquire properties for as low as a few hundred dollars, particularly targeting sellers burdened by taxes or those who see their land as a liability. This presents an appealing entry point for aspiring investors looking to engage in real estate without the complexities associated with traditional property transactions.