Raw land buy and hold

[Kenneth Sanchez]

Investment Info:

Other buy & hold investment in Waynesville.

Purchase price: $8,000
Cash invested: $8,000

I purchased this property that is 9.3 acres of raw land on top/side of a mountain for 8k cash while the land value at the time of purchase was 22k in 2018 . It is a buy and hold property with intentions to sell in the future

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

It was to great of a deal to pass . Taxes are very low annually. It had a appraised value almost 3 times more than what I had payed .

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

This deal actually found me in a funny way. It was inherited to my ex girlfriends mother which whom I am still close with , she had no interest in keeping it and offered it to me at a greatly discounted price under the market value . There was no negotiating on price as I felt it would be insulting with such a great deal already.

How did you finance this deal?

This was a cash deal of my own money

Lessons learned? Challenges?

Lesson learned , stay in touch with your ex's mother