Vacant Land with great potential

[Clyde N. Lane]

Investment Info:

Other other investment in Talladega Springs.

Purchase price: $1,514
Cash invested: $2,200
Sale price: $12,000

Property is assessed at $24,000.00. 3 acres in Talladega City limits. Property has recent survey and title search. In the near future it will be developed starting with a driveway and home pad. Land has a stream which will compliment an addition of pond. Land has over 220 feet road frontage on Stemley Bridge Road and Alabama Highway 77. More information to follow.

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

Investment opportunity and provide equity opportunity for someone in local community.

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

Tax sale.

How did you finance this deal?

Private lender

How did you add value to the deal?

Initiative and exercising patience.

What was the outcome?

Slowly maneuvering through development process.

Lessons learned? Challenges?

Patience is important and following proper guidelines.

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

No