Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 1 year ago,

User Stats

6
Posts
4
Votes
Jay VanOrden
Pro Member
  • Wantage, NJ
4
Votes |
6
Posts

New Home Build

Jay VanOrden
Pro Member
  • Wantage, NJ
Posted

Investment Info:

Single-family residence private money loan investment.

Purchase price: $565,000
Cash invested: $685,000
Sale price: $1,675,000

Knock down and new re-build of single family home

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

I prefer the larger homes in higher net worth area's.

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

Referral from a contractor. Negotiated directly with the home owner.

How did you finance this deal?

Combination of my own cash and conventional mortgage.

How did you add value to the deal?

New build from the ground up. Had to work with the DEP to gain approval since it was very close to a small lake.

What was the outcome?

Great investment and has led to other deals in the area.

Lessons learned? Challenges?

Any time you have to gain approval from a State agency count on a lengthy time consuming process.

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

No. Sold it directly to a buyer.

  • Jay VanOrden