small eco resort in the mountains of NC

[Aaron Patterson]

Investment Info:

Other other investment.

Purchase price: $88,000

purchased 7.5 acres with a house. remodeled and live in the house part time. taking 5 acres in the Nantahala National forest, plan to build small off grid eco cabins for vacation rentals

What made you interested in investing in this type of deal?

creating some residual income with the smallest amount of up front investment

How did you find this deal and how did you negotiate it?

realtor.com conventional loan (30yr fixed) on the home and land

How did you finance this deal?

5% down with PMI and refinanced after 1 year

How did you add value to the deal?

have only cleared a small area with stone down to get equipment in to start clearing a functional driveway

What was the outcome?

not done yet

Lessons learned? Challenges?

permitting is easy in Jackson county road building is a substantial cost