Doubled my investment in two months selling a infill lot.

[Palani (Pono) Wright]

Investment Info:

Other other investment.

Purchase price: $11,298
Cash invested: $1,300
Sale price: $25,000

Bullet points to this transaction:
*Acquired the property through a direct mailing campaign to the area.
*Once acquired, I hired a drone photographer to take pics of the property.
*Listed the property on multiple sites LOWER than any other comp in the area (ALL FREE)
*Sold the property in two months after acquiring it

This lot was one of the last remaining infill parcels in the area.

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

I think parcels located 1 to 2 hours away from busy cities (Like Tucson & Phoenix) is always a good idea.

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

I reached out to the seller using a typical mailing campaign of the area. The original price that I offered the seller was lower but they had some back taxes to the property that I had to take care of if I wanted to move forward with the purchase.

How did you finance this deal?

I self financed this deal.

How did you add value to the deal?

Being that it's a infill lot, there wasn't a whole lot of value ad that I could've done to the property. One of the key factors that I believe helped sell this property was hiring drone photographer for the listing images...I saw that most properties listed in the area had horrible pictures which didn't portray the best image of the area.

What was the outcome?

I was very pleased with the outcome. I had some good interest early on from a neighbor mailer campaign but in the end it was a wholesaler that saw the value and wanted to by the property for his father.

Lessons learned? Challenges?

Nope, this was a pretty simple and straight forward deal.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

The end buyer happened to be a wholesaler and we closed the deal in two weeks. The Escrow company was Stewart Title which I have used many of times and so far I have been happy with all of my transactions.