Little Farm in Okeechobee

5 Replies

Investment Info:

Single-family residence fix & flip investment in Okeechobee.

Purchase price: $75,000
Cash invested: $55,000
Sale price: $210,000

Fix and Flip of a Farm like property of 4.1 acres 10mins outside Okeechobee. Property was uninhabited for 3 years. Full rehab. New appliances, new HVAC, new fixtures. Landscaping was a challenge.

What made you interested in investing in this type of deal?

Low purchase price.

How did you find this deal and how did you negotiate it?

Through our local real estate agent partner who brought us the deal.

How did you finance this deal?

Private hard money loan. Too expensive.

How did you add value to the deal?

Rehab. Simple and effective. New kitchen, new floors, new hvac, new appliances. Good quality but in accordance with the area.

What was the outcome?

Good profit, but we took to long to start.

Lessons learned? Challenges?

Landscaping in farm properties is a drag. Fix and Flip have to happen fast to make good money. Private hard money is too expensive.

@Andre Freitas Thanks for sharing.  This is probably the first "Farm Flip" I've seen on here!  To what extent did you have to "landscape".? Were you essentially fixing the house and making the farm shovel/seed ready? Share some pics!

What kind of terms did you get from the hard money lender on this farm?

All the best, 

Awesome! I live in Okeechobee and I grew up in little farms. This story makes me happy, thanks Andre. I'd love to chat some time about the Okeechobee market. I'm currently rehabbing a home in King's Bay for a flip and have another home on standby until I can get to it located off 68 just north of little farms.

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

We hate spam just as much as you