Reliez Valley Vacant Land
Investment Info:
Other buy & hold investment.
Purchase price: $550,000
Cash invested: $550,000
Sale price: $707,000
1.64 Acre Vacant Lot, Alhambra Valley, Zone R-10 Residential
What made you interested in investing in this type of deal?
Rare vacant lot in highly desired area, potential for lot split, multiple home build, potential personal residence.
How did you find this deal and how did you negotiate it?
I am a real estate agent, love the location. and did due diligence on possible uses - mainly multiple mid-size sustainable homes, and lot split. The City changed their position during permitting stage and only allowed one house, which did not align with our business model. Sold 2 years later for $150,000 more. Negotiated good sale by providing partial seller financing and promoting the fact that surrounding hills had recently become permanent open space.
How did you finance this deal?
Personal loan from friendly lender.
How did you add value to the deal?
Held during city vote situation and worked through entitlements process, which added certainty.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Myself
