Land flip that was bought as a package with another house.

[Boone Tyson]

Investment Info:

Other fix & flip investment.

Cash invested: $1,500
Sale price: $30,000

Our only land flip. We bought this as part of a foreclosure from the MLS last Christmas. When we saw the property, we noticed it had a vacant lot attached that we were able to subdivide at the closing table. It was already metered separately and didn't need any work. We held it for about a year debating whether to build on it or sell it and elected to liquidate in order to pay off a loss we had when another property of ours caught on fire last summer.