Property in West Jefferson, NC

1 Reply

Hello everyone,

My name is Brian Bauk. I currently am taking real estate classes (total noob) and live in Boone, NC. I own a house here and have 3 tenants that are the only reason I can afford it. Recently, I’ve been hearing about the growth in one of our neighboring towns, West Jefferson, NC, and would like to hear any feedback on this deal. There has been properties going for dirt cheap (50-60k houses). This property, in particular, has a small house at about 750 sq ft, but is located on 96 acres of land that is listed at 550k. I’m confident that we could make a deal for under 500k with some effort, and I’m confident that this is a good deal. The highway going to W. Jefferson is being widened that has a bunch of real estate heads turning for potential growth. I have been in contact with a real estate paralegal that has said he has been doing deals on properties out there constantly and obviously I want in on this possible growth. My problem is that there is no way that I couldn’t personally afford it, and have no clue where to start on finding private money to do so. I just started reading Brandon Turner’s books. If anyone has any advice or interest in the deal, please reply back to me. Thanks!

Bauk

Hi Brian,

I realize this thread is a year old, but I do wonder how you made out.  I was considering buying 3 acres of land, but the land has lost value between 2011 and now and I have to wonder why.