10 Acres: Horses, Donkeys, & Dogs, Oh My

5 Replies

Investment Info:

Other buy & hold investment in Jones.

Purchase price: $135,000
Cash invested: $30,000

10 acres fenced into two 5 acre parcels with 1 existing mobile home. After purchasing I moved another mobile home onto the opposite 5 acres with existing septic, well, and electric. Both rented and cash flowing while the land they sit on appreciates.

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

I've always been interested in land, and this happens to be my home town where I'm very comfortable investing.

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

Found before going on market and worked with the seller directly.

How did you finance this deal?

Small town bank that is familiar with raw land in our area.

How did you add value to the deal?

Adding another unit for very little cash and effectively doubling cashflow

What was the outcome?

So far so good.

That sounds like my wife's dream. She wants to find a bunch of land to open an animal rescue. Sounds like it is working out well for you. Good job. 

This sounds awesome for a personal property. I have several pieces of recreational land that "regular" people would never want to live on lol! I'm glad you were able to make it work for you as an investment property so far.

Originally posted by @Anthony Dooley :

The only thing you forgot to say is, How much income does this investment produce? Everything else is nuance.


Thanks for asking to clarify!

Still figuring out the format for Bigger Pockets Posts! PITI on the property is about $1,200 Monthly.

The newer home with another small living residence on it is rented for $1,300 per month (on a fenced 5 acres)

The second home I placed on the remaining fenced 5 acres is rented for $1,000 per month

So about $1,100 in cashflow. (Although the land is appreciating, the mobile homes are not.)

 

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