Land Contract of 147 SF and 21 MF Lots

[Nolan Ausan Sr]

Investment Info:

Other other investment in Omaha.

Purchase price: $3,480,000
Cash invested: $30,000
Sale price: $4,380,000

Assignment of 147 SF and 21 MF Lots from one developer to a large production home builder

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

Had a partner that needed lots for their home building company.

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

I was trying to buy the MF lots and inquired about purchasing the whole development.

How did you finance this deal?

Assigned contract to end buyer without closing. Partner put up 30k earnest deposit that was refunded at the closing.

How did you add value to the deal?

I helped the seller out of a tough situation and was able to find the right buyer that also had a need.

What was the outcome?

This was rewarding experience to help everyone align and benefit from this sale.

Lessons learned? Challenges?

Have more patience with these larger deals, lots of moving parts. I would try to simplify the process more if possible. Other than that I will be looking to do more of the same type of deals.

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

Just a real estate attorney to draft all the documents (40+ pages)