Undeveloped single-family home plot

[Jacob Brooks]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $170,000
Cash invested: $20,000
Sale price: $215,000

1.5 acres for residential build in upscale closed community with intent to buy/hold for a year to decide on building and selling or selling. Sold as undeveloped.

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

The property value in the area was increasing dramatically year over year. Was interested in buying and holding to see if we wanted to build or sell it as the marked cooled.

How did you finance this deal?

Veterans Land Board Loan

Lessons learned? Challenges?

Taxes and fees take a hefty chunk out of profits.

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

Yes, Shayne Lowery of Phillips & Associates Realty, continuing to work with her on the 1031 turnover of this property