St. Paul, NE - Jess M. - Acreage Development *Seeking Advice

[Jess Moody]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $189,000
Cash invested: $1,000

This is a 10 acre property that I bought at the beginning of last year. I currently have a tenant in the house but would like to rent out the pasture separately, potentially as a self-care lot for horses. The land is fenced but does not have any building. The current rent I'm receiving for the house is allowing us to just break even, so I'm looking for advice and ideas on how to turn this acreage into an income property.

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

Ultimately, i would like to be able to quit my job and manage properties full-time. This land was a great buying opportunity, IMO, and I know that it can be profitable, unfortunately I am a beginner at this and need advice and how to turn it profitable.

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

This was my parent's property so they offered it to me on a land contract with a no-interest buying option.

How did you finance this deal?

Land contract between the buyer and me.

How did you add value to the deal?

Currently, I have made no notable improvements

What was the outcome?

N/A. This is a work in progress.

Lessons learned? Challenges?

Not having a plan for income has made this land a temporary nuisance.

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

No.