Raw land on lake

[Alexander Goodson]

Investment Info:

Other buy & hold investment.

Purchase price: $50,000
Cash invested: $2,000
Sale price: $100,000

44 acres of raw land with frontage on deer lake. I got an address for it, cleared some land and hooked up electric. The neighbor didn't want us to build there and he ended up buying the property.

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

Saw value where no one else did everyone was perplexed why I wanted to buy a swamp. I liked what I saw

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

Negotiated during the lockdown which helped in my favor.

How did you finance this deal?

Cash

How did you add value to the deal?

Developing the property

What was the outcome?

Profitable with minimal investment

Lessons learned? Challenges?

Taxes on property with lake frontage are very expensive