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Updated almost 5 years ago,
#5 Multi-Family and Apartment Investing Contributor
- Investor
- Shelton, WA
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Recant Purchase of some property neighboring our PR
#5 Multi-Family and Apartment Investing Contributor
- Investor
- Shelton, WA
Investment Info:
Other buy & hold investment in Shelton.
Purchase price: $75,000
Cash invested: $75,000
Beautiful undeveloped land, some meadow, some timber, a bit of wetland; the property abuts our current land. Gives us a buffer against future development. Who knows maybe we will subdivide some day.
What made you interested in investing in this type of deal?
Future holding, privacy.
How did you find this deal and how did you negotiate it?
Networking the area.
How did you finance this deal?
Just paid cash.
How did you add value to the deal?
Leaving the land undeveloped for know.
Lessons learned? Challenges?
Learned that if you decide to not develop the land and leave it as open land for now, the property tax is about 10% of regular, and if you decide to develop later you can do a tax 'catch up' at that time.