2nd investment property

[Cole Parrish]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $245,000
Cash invested: $40,000

2.5 acre property with a small pole barn shop, 640 sqft garage, and fenced in acre with small horse barn. Comes with well, septic, and 220 electric service.

Currently remodeling garage into a living space. Goal in the next two years is to refinance into construction loan and build a spec house on the property.

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

It is less than a mile away from where my first rental property is. It’s in a nice neighborhood, has potential for future subdivision and rental income.

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

Found on Zillow and negotiated a owner carry contract with the owners

How did you finance this deal?

Owner Carry