Property Development For Maximum Income

[Mary A Daughtrey]

Investment Info:

Other buy & hold investment in Bedias.

Purchase price: $179,000
Cash invested: $17,900

Development of 3 acre parcel in growing suburb. Project to expand to 4 little homes on three acres in addition to the existing 2,000 sq ft home. Proforma of gross rents of $4500 a month. Owner financed the property for 4 years amortized over 30 years to keep the payments low.

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

Develop a property with significant monthly income

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

MLS negotiated owner financing due to condition of the property.

How did you finance this deal?

Owner finance

How did you add value to the deal?

Repairs and development of the three acres

What was the outcome?

In process