Land Auction purchase
Investment Info:
Other other investment in San Diego.
Purchase price: $5,400
Cash invested: $2,800
Sale price: $15,000
Land acquisition through property tax auction. Cleared the title, then sold on the MLS.
What made you interested in investing in this type of deal?
It's price point made it easy for me to invest in alone.
How did you find this deal and how did you negotiate it?
Found through RealAuctions.com
How did you finance this deal?
My own money
How did you add value to the deal?
I saw it as selling between 15-20K based upon comparable sales.
What was the outcome?
Sold for $15K after rejecting a low ball offer.
Lessons learned? Challenges?
Ensure the title clearing service is clearing it through the courts instead of just performing a title search and insuring it through their own company.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Tamar Hill out of Orlando Florida