First tax deed investment
Investment Info:
Other other investment.
Purchase price: $300
Cash invested: $300
First tax deed property purchased from Michigan's no-reserve list. I purchased this 0.12 acre for $300 in Jackson, MI and am thinking of either reselling it or placing something on top to create cashflow. I already listed it up for sale on FB marketplace, but with the price I got it for vs resell value I'm thinking it may be smarter to place a mobile home or build a house on it to resell later.
What made you interested in investing in this type of deal?
Pennies on a dollar investment and I believe it's beginner-friendly
How did you find this deal and how did you negotiate it?
I found it on Michigan's no-reserve list, which I found through my mentors at the time which were Acre Boyzz.
How did you finance this deal?
I used my own money
How did you add value to the deal?
Nothing yet -- I'd love to find someone who can teach me to put either a mobile home or build another cashflowing asset on top of my land!
What was the outcome?
Currently listed on FB marketplace -- the hits I've received are either low offers or questions with no commitment yet, but I only listed them a month ago.
Lessons learned? Challenges?
Challenges -- definitely getting to all the right departments for due diligence and digging at them for answers. They're not always straightforward or willing to help.
Another thing I will be facing soon is having to upkeep the grass, because the community its in requires grass to be cut. I have 5 properties total and one more that I need to send paperwork for which will total 6 properties acquired from November 2024 - January 2025. I'm hoping I can sell most or all before springtime.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Not yet
