Updated over 6 years ago on . Most recent reply
Raw land buy and hold
Investment Info:
Other buy & hold investment in Waynesville.
Purchase price: $8,000
Cash invested: $8,000
I purchased this property that is 9.3 acres of raw land on top/side of a mountain for 8k cash while the land value at the time of purchase was 22k in 2018 . It is a buy and hold property with intentions to sell in the future
What made you interested in investing in this type of deal?
It was to great of a deal to pass . Taxes are very low annually. It had a appraised value almost 3 times more than what I had payed .
How did you find this deal and how did you negotiate it?
This deal actually found me in a funny way. It was inherited to my ex girlfriends mother which whom I am still close with , she had no interest in keeping it and offered it to me at a greatly discounted price under the market value . There was no negotiating on price as I felt it would be insulting with such a great deal already.
How did you finance this deal?
This was a cash deal of my own money
Lessons learned? Challenges?
Lesson learned , stay in touch with your ex's mother
