Duplex Investment Property Build from Unimproved Land

[Lauren DeFreitas]

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $75,000
Cash invested: $300,000

Purchased unimproved land only 0.5 miles from The Square (main hub of commercial, retail, and eateries in Denton). Building a duplex as a long-term rental investment property.

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

I want to try my hand as a landlord and wanted to learn how to build a house from scratch, so this was an opportunity to combine both ambitions!

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

I connected with a wholesaler who let me know the property was on the market.

How did you finance this deal?

CASH.

How did you add value to the deal?

Unimproved land to duplex residential property.

What was the outcome?

Still working on it ... I have a landscape designer furnishing the last of the plans before we submit for permits.

Lessons learned? Challenges?

You need a great network of other professionals and when you lift each other up, amazing things can happen!

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

Yes, me :)