Updated over 3 years ago on .
2nd investment property
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $245,000
Cash invested: $40,000
2.5 acre property with a small pole barn shop, 640 sqft garage, and fenced in acre with small horse barn. Comes with well, septic, and 220 electric service.
Currently remodeling garage into a living space. Goal in the next two years is to refinance into construction loan and build a spec house on the property.
What made you interested in investing in this type of deal?
It is less than a mile away from where my first rental property is. It’s in a nice neighborhood, has potential for future subdivision and rental income.
How did you find this deal and how did you negotiate it?
Found on Zillow and negotiated a owner carry contract with the owners
How did you finance this deal?
Owner Carry
