Updated about 6 years ago on . Most recent reply
10 Acres: Horses, Donkeys, & Dogs, Oh My
Investment Info:
Other buy & hold investment in Jones.
Purchase price: $135,000
Cash invested: $30,000
10 acres fenced into two 5 acre parcels with 1 existing mobile home. After purchasing I moved another mobile home onto the opposite 5 acres with existing septic, well, and electric. Both rented and cash flowing while the land they sit on appreciates.
What made you interested in investing in this type of deal?
I've always been interested in land, and this happens to be my home town where I'm very comfortable investing.
How did you find this deal and how did you negotiate it?
Found before going on market and worked with the seller directly.
How did you finance this deal?
Small town bank that is familiar with raw land in our area.
How did you add value to the deal?
Adding another unit for very little cash and effectively doubling cashflow
What was the outcome?
So far so good.