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Updated over 4 years ago on . Most recent reply
1st real estate purchase raw land 28 acres
Investment Info:
Other buy & hold investment in Las Vegas.
Purchase price: $28,000
Cash invested: $1
28 acres raw land next to National Forest. No money down. Contract.
What made you interested in investing in this type of deal?
Development in a remote yet up coming area
How did you find this deal and how did you negotiate it?
Newspaper. Owner flexible. No money down. BP site wouldn't allow $0 so entered $1 ;) Private contract with seller.
How did you finance this deal?
Negotiated no money down. BP site wouldn't allow $0 so entered $1 ;) Private contract with seller.
How did you add value to the deal?
No money down and 15 yr contract, pretty sweet deal.
What was the outcome?
Held for awhile and gave it to a former partner.
Lessons learned? Challenges?
Would have been nice to keep it but I had to move on.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
No. Private purchase.