Updated about 7 years ago on . Most recent reply
10 Acre Raw Land Flip/Hold
Investment Info:
Other buy & hold investment.
Purchase price: $22,000
Cash invested: $1,000
Sale price: $46,000
10 Acre Raw Land purchased from out of state seller who inherited the parcel. Asking price was 24k. I noticed the land was on a hillside so I hiked up and saw there was a potential view. I cleared many trees myself before finding a local with equipment who cleared the remainder of trees in exchange for keeping the timber. I also paid him $1000 for culvert/driveway rough in. Sold without realtor on FB Marketplace.
What made you interested in investing in this type of deal?
I knew this land was priced well below market value, and saw an opportunity for forced appreciation.
How did you find this deal and how did you negotiate it?
MLS, made quick offer
How did you finance this deal?
Cash
How did you add value to the deal?
Clearing lot, opening up view
What was the outcome?
200% ROI
Lessons learned? Challenges?
Land is a good vessel in my area for income, this set up my next land/single family deal
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Only purchasing realtor who was a friend