Small farm with cashflow home & space to park our Tiny House

[Tiffany Da Silva]

Investment Info:

Other buy & hold investment.

Purchase price: $135,000
Cash invested: $40,000

I purchased this farm as a place to park out tiny house on wheels & to be able to rent out the house on the property to have a cash-flowing primary residence ;)

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

I had been looking for a place to park my tiny house and I figured it would be easier to get a loan on a house than on land - not to mention the infrastructure. So I wanted to purchase something that would not only make me money - but also a place to live.

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

Found this deal on market & we negotiated normally. Original asking was $145K but since the condition was not good we offered $125K and landed in the middle.

How did you finance this deal?

Cash out refi on another property.

How did you add value to the deal?

we renovated EVERYTHING. New plumbing, electrical, well, - shouldn't have any cap x expenses for a while!

What was the outcome?

A great rental that also gives us a place to live.

Lessons learned? Challenges?

Rehab went over budget.
Financing is not as easy as it seems...

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

Myself (loan officer)
& my mom Lucy Martins which is a realtor :)