Land Buy with Two Home development

[Napoleon DeCiutiis]

Investment Info:

Other other investment.

Purchase price: $65,000
Cash invested: $65,000

Land Buy with two home development going up 2023. Will build and sell.

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

I found a builder and a partner who I trust.

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

We got the land $10k under, convinced Lowes to give us a 20% discount on all materials if we buy through them. Spoke with a local bank for a construction loan, and will over double our money on this deal.

How did you finance this deal?

Local Bank with construction loan, bought land cash.

How did you add value to the deal?

Split lots, had Panama City annex land from country so we can hook up double sewer, building two homes on property.

What was the outcome?

Outcome will be a $350k-$400K deal

Lessons learned? Challenges?

To be determined