MF Land Flip in San Antonio
Investment Info:
Other other investment in San Antonio.
Purchase price: $14,500
Cash invested: $17,500
Sale price: $40,000
Purchased an off market MF double lot in the 78207 area and sold 3 months later.
What made you interested in investing in this type of deal?
Multifamily double lot that was available off market in an area with active new construction.
How did you find this deal and how did you negotiate it?
Asking price was 17,500. Property had 1 year of back taxes and liens attached from city for lot cleanup. Offered a lower price and covered all taxes and cleared liens through title.
How did you finance this deal?
Cash.
How did you add value to the deal?
Comps based on recent MF purchases for new builds.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Chicago Title and my Realtor.