new construction build/sell

[Brenda Jean Adamson]

Investment Info:

Single-family residence other investment.

Purchase price: $15,000
Cash invested: $165,000
Sale price: $290,000

new construction from the ground up

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

My parents have been doing this for years. My brother and I went in together to finance and build the house.

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

This piece of property was part of a larger parcel from a few years ago. It was just sitting there waiting to be built on.

How did you finance this deal?

We received a local bank spec loan with no money down because the lot was owned free and clear; we took out funds of about 3K from the front end to cover closing costs.

How did you add value to the deal?

I pulled the permits and called in all inspections. My brother ran the job and built the house. As a realtor, I sold the house.

What was the outcome?

SOLD!

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

Yes...just message me