Developing ready build lots for sale

[Cordell Critchell]

Investment Info:

Other fix & flip investment in Star Valley Ranch.

Purchase price: $475,000
Cash invested: $475,000

35 Acres of rural zoned flat farmland. I plan to develop this land into 7 (5) acre lots providing access, power, fiber to lots edge.

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

We were told by an associate they were moving to the area. I started looking into the region more closely, I had been in the area a handful of times. So many signs pointed to big growth.

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

I found it online and worked with a local realtor. Property was listed for $495,000 and had been on the market for a few months. We offered $405,000 to see what a counter what look like. They countered at $475,000 and felt that was a fair price.

How did you finance this deal?

Cash from my previous two deals.

How did you add value to the deal?

Hopefully by successfully developing the land.