Adding land deals into my buy & hold strategy

[Mark Fries]

I am strictly a buy & hold guy but have been messing around with land deals lately due to flooded market for single family.. Bought 1/4 acre lot 4 days ago at auction for $2700...had it cleared and cleaned up 2 days ago for $3100, put a big sign out front 1 day ago "for sale by owner will finance" Instant phone calls, signing contract today for $25k... $5k down, 7.5%, 10 year mortgage, approx $247 a month.... Thinking about changing my mind about strictly buy & holds... lol