Updated almost 7 years ago on .
Farm Living in Alabama
Investment Info:
Other other investment in Waterloo.
Purchase price: $205,000
Cash invested: $35,000
160 Farm that we plan to do Agri-toursim, tiny home cabins for Airbnb, retreats, weddings and other events.
What made you interested in investing in this type of deal?
Agri-tourism is a growing business model and we want to have that life for our family
How did you find this deal and how did you negotiate it?
Searched online for 7 years for properties in Tennessee when this one popped up at the bottom of our search page. It met all our our criteria (except being in Alabama) and the price, taxes and location were right.
How did you finance this deal?
Farm South Credit Bank with 20% down in 2 separate loans, as there was equipment that came with the farm that could not be put into a mortgage.
How did you add value to the deal?
We will be converting the 7 treehouse style permanent deer stands into larger tree houses for Airbnb as well as building other structures, planting a fruit orchard, growing cash crops, hosting retreats and educational events as well as building a wedding venue and many other plans we have in store.
What was the outcome?
Will keep you posted once we get moved and get started!
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Nope! The listing agent created problems with a neighbor, which could have easily been avoided had he been honest, that we are still having to deal with and will probably have to get an attorney involved.