Other other investment in Rohnert Park.
Purchase price: $27,000
Cash invested: $27,000
just under 4 acres of land in the path of progress.. when we bought it .. the land was unbuildable because of Sonoma county very strict septic system rules. And it was zoned residental.. however it was on a free way off ramp access road.. and they had just built a shopping center one block over with a Home Depot Anchor.
Then about 15 years ago One of the Vegas gambling concerns was able to lobby a local tribe to establish a casino.. 230 million for the land across from us..
What made you interested in investing in this type of deal?
We like land banking
How did you find this deal and how did you negotiate it?
my real estate broker
How did you finance this deal?
How did you add value to the deal?
Waiting city grew to us.
What was the outcome?
still to be determined but hope to cash out in December. however we are in contract now for 1.9 million.. all cash. Fingers crossed.
Lessons learned? Challenges?
buy in the path of progress,
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
real estate broker.
@Jay Hinrichs cons for this good investment, it seems like that do the land flip? Can I know what is your holding period?I am new to real estate, but would like to know more about different strategies, thanks.
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