Developing new Investment strategies!

[Matthew Coghlan]

Investment Info:

Mobile home other investment.

Purchase price: $46,900
Cash invested: $7,000
Sale price: $240,000

This was Raw land we developed. We purchased 4 lots(9.76 acres) for $46,900. We then went to Clayton Homes and purchased a 4 bed 2 bath Manufactured home. We had this home put on one lot (aprox. 2.53 acres) . We made approximately $40,000 from one of the lots. We still have 3 other lots (7.46 acres) to develop or sale.

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

The location and type of land. Wooded, secluded and just plain natural!

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

We searched online for raw land and used a real estate broker to negotiate the price for us!

How did you finance this deal?

We secured financing Through FCS Financial.

How did you add value to the deal?

By developing and building a home on the land

What was the outcome?

A nice family received a beautiful home and we made capital.

Lessons learned? Challenges?

Research the company and contractors! VET AND INTERVIEW THEM! We had this project delayed by over 9 months because of not doing my due diligence.