Fix & Flip Land Investment

[Anna Thane]

Investment Info:

Other fix & flip investment in Plains.

Cash invested: $3,000
Sale price: $260,000

I inherited 38 acres of beautiful land, complete with a rat-infested mobile home, custom built shop and about 1 acre of garbage, snakes and wasps. My husband and I spent two weeks with two 30 yard dumpsters cleaning up the property. We found someone willing to take the mobile home off our hands in exchange for taking the mobile home off our hands! We sold the property in 137 days and plan to use the profit towards our next investment purchase.

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

We knew that selling this property would help move us forward in our investing.

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

I inherited this property along with my brother, but it took some negotiating to help him see that we needed to put in the work to sell right away. The mobile home was a huge concern and I knew it needed to be removed in order to get the best price for the land, so it took some work to find someone who wanted it enough to haul it away himself.

How did you finance this deal?

Cash on hand.

How did you add value to the deal?

We cleaned up all the debris and miscellaneous items on the land to restore it to its natural beauty.

What was the outcome?

I estimated we could sell the land for $250,000 and it ended up selling for $260,000.

Lessons learned? Challenges?

I keep learning that it never hurts to ask and that one woman's trash is often another man's treasure. This was a very physically challenging job but totally worth it, and now I know what 30 cubic yards of junk looks like. Mostly I learned not to get too emotionally attached to a property. This one in particular would not have served me had I hung onto it, but now I can move forward with my investments and someone else is enjoying the land.