Single-family residence buy & hold investment.
Purchase price: $18,500
Cash invested: $1
This is to be a new ground up build for our own personal home, it’s about 2 miles north of our current home. So far it’s been cleared, then started to build a privacy fence, which got shut down by the Hoa, long story. The boat shot is right after Hurricane harvey, so this will not be on a slab house.
What made you interested in investing in this type of deal?
Further from 290 highway
How did you find this deal and how did you negotiate it?
Driving for dallors
How did you finance this deal?
How did you add value to the deal?
Will build new house here
What was the outcome?
Lessons learned? Challenges?
Hoa will drive you nuts, even when they are not in a position to control things, months of letters and phone calls, sample fence built and demoed at meetings , all to find out they can not even control this, as it’s controlled at the county Level.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Private party cash deal
Update - I decided to sell this and concentrate my time on cash flow properties. I listed it at $49,950 and it went pending in less than a week at $45k. I had spent about $6k on clearing and the fence. So gross profit is about $20k.
Everything near by is selling in under 30 days, unless it’s a dump or way over market which is around $110 sq ft for finished houses, and this area requires 2000 min sq ft, average size is much higher.
almost all of these are pending except the 1.12 million
View hope this link works
Link does work
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