Land Investment Buy & Hold
Investment Info:
Other buy & hold investment.
Purchase price: $25,000
Sale price: $190,000
Raw Land purchased. I'm holding now a Note for $55k on it.
What made you interested in investing in this type of deal?
Purchased land before and subdivided into 6 lots.
How did you find this deal and how did you negotiate it?
On the market for sale and contacted the listing agent directly.
How did you finance this deal?
With my own cash
How did you add value to the deal?
Ran comparable sales in the area
What was the outcome?
I made a return on my investment but I think I could have squeezed more out it.
Lessons learned? Challenges?
Next time maybe consider partnering with a Builder/Developer to create something on it. The land was free and clear so, either partner, or myself get a hardmoney or private money to build on it. Also could have leased the land.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I'm a Realtor so, I just take care of it but I did go to the Listing Agent directly on this deal