Old Farmhouse Development

[Melissa Zimmermann]

Investment Info:

Single-family residence other investment in Ballantine.

Purchase price: $150,000
Cash invested: $15,000

80 year old farmhouse on 5 acres to be subdivided into (5) 1 acre parcels with new single family homes for resale

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

The housing inventory shortage and the huge demand for rural property

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

I listed the home for the seller and we weren't getting any traction. We reduced the price several times and she needed a quick close so she could move forward with the home she was purchasing.

How did you finance this deal?

Seller financed

How did you add value to the deal?

The value will be added once we finalize the subdivision and begin building

What was the outcome?

Still in the process

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

I represented both the seller and us, the buyers.