Buy and Hold

[David Robinson]

Investment Info:

Other buy & hold investment.

Purchase price: $10,500
Cash invested: $7,000

Land only, needs culverts, driveways, electric, water. some landscaping and grading needed. cash invested for acquisition only.

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

Close to a college, grew up playing on the land.

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

Realtor had it listed. I offered below asking price, and it was accepted.

How did you finance this deal?

HML

How did you add value to the deal?

Added a survey, cleared space for a perc septic test. Kept communication with real estate agents, paperwork and calls.

What was the outcome?

Holding on thin ice, currently listed to sell land and possibly use the cash to take a breath and then find another piece of land that I can be at within an hour or two drive not 6. Sounds like 1st world problems. But thats my excuse, even though when I had cash, it could have been used to do more rehab and make it more presentable to see and ready to build on.

Lessons learned? Challenges?

Have the cash on hand for the quickest possible way to cash flow short term or long term. Be ready for more work on raw land.

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

Yes, both realtors from acquisition to current realtor listing it, have been a pleasure to work with. And glad for their help.