Updated 3 days ago on . Most recent reply
Cedartown Land flip
Investment Info:
Other fix & flip investment.
Purchase price: $50,000
Cash invested: $55,000
Sale price: $75,000
Contributors:
Mitchell Johnson
Land flip
What made you interested in investing in this type of deal?
favorable Zoning
How did you find this deal and how did you negotiate it?
land flipper Mitchell Johnson brought me the deal and asked me for help taking it down.
How did you finance this deal?
cash on hand funded 50/50 with Mitchell
How did you add value to the deal?
we got a survey and legal descriptions county didnt even know who owned the land.
What was the outcome?
we were able to flip it to a developer with great cash on cash return
Lessons learned? Challenges?
surveys and ownership in rural counties can be time consuming and expensive.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Mitchell Johnson was a land wholesaler (now an agent) on the deal who found the land at less than 1/2 market value.
