Tax Foreclosed Lot in Lago Vista TX

[Carl Dieckmann]

Investment Info:

Other other investment in Lago Vista.

Purchase price: $7,000
Cash invested: $7,000
Sale price: $17,000

This is an unimproved lot in Lago Vista which I bought from Travis County. It was previously foreclosed in a tax foreclosure and didn't sell at auction. I knew the lot was worth more than the legal fees and back taxes due to the close utilities. I bought it with another investor, sat on it a year to avoid capital gains, and sold it for a 10k profit.

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

This type of lot with utilities is in demand in this town

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

Back taxes and legal fees are owed to the county. Basically there is no negotiation.

How did you finance this deal?

Cash

How did you add value to the deal?

-

What was the outcome?

nice profitability for minimal work and risk

Lessons learned? Challenges?

deals like this are hard to come by, but welcome when they do

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

none other than my real estate team, the Emily Dieckmann Real Estate team in Lago Vista TX