Newberry Springs-SF New Construction

[Levi Giafaglione]

Investment Info:

Single-family residence fix & flip investment in Newberry Springs.

Purchase price: $11,300
Cash invested: $11,300

Financed land purchase to obtain equity.
Full ownership 6/20/21
Intended for new construction shipping container home build.
Build & hold
Located 2 hours from 3 entertainment circuit areas. Las Vegas, Los Angeles, & San Diego.

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

I started financing this 5 acres of land about a year after rebuilding from homelessness. I needed a chance to build equity.

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

I found it on craigslist. Met with Mike in person and signed the contract.

How did you finance this deal?

I found a seller who would finance with no qualifying criteria. Simply a downpayment and pay on time model.

How did you add value to the deal?

I will be building a home after financing of land is complete.

What was the outcome?

In process

Lessons learned? Challenges?

It wasn’t necessary to meet the seller in person but put me at ease.

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

None so far.