Land With Existing Improvements

[Chris Fluegge]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $49,000
Cash invested: $3,000

We purchased 5 acres with no deed restrictions or HOA and continue to build out rentals/lots on the property.

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

It was a steal of a deal. The property already had septic, water, and electricity from a home that had been demolished. These improvements alone in the area where the property was located would have been as much as the asking price for just the land itself.

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

We located it through simple online searches.

How did you finance this deal?

Originally, it was owner-financed.

What was the outcome?

A cash-flowing property with near-zero debt.