46 Acre Property

[Thomas Mckale]

Investment Info:

Other other investment in Hauula.

Purchase price: $130,000
Cash invested: $130,000

46.6 acres of land, I have a 6 acre clearing in the front and 10 acre clearing in the back. A river runs around 2/3 of the property. Just got an offer on it for $300k. Plan as of now is to just hold for now.

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

A place to build and retire on.

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

So I found it visiting NC. I was able to work out a deal with the owner for financing and cut them a check on the spot.

How did you finance this deal?

It was a deal for 18 month pay off at 7%. Owner financed

How did you add value to the deal?

Just told him it was a win win. I pay it off he wins. I default he keeps the money I gave him and gets to sell it again.

What was the outcome?

I paid it off with in 12months.

Lessons learned? Challenges?

Don’t be scared to ask. Worst case they say “NO”. I didn’t really have any challenges that I can remember.

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

No