10.26 acres in Park Valley Utah Wholesale

[Palani (Pono) Wright]

Investment Info:

Other other investment.

Purchase price: $4,600
Cash invested: $5,200
Sale price: $18,000

This was a 10.26 acre lot in Box Elder County Utah.

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

I saw that there was a high demand for large acre properties in the area but not a lot of properties for sale.

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

I acquired this deal through a mailing campaign where I hyper targeted out-of-state owners who owned large parcels in the area.

How did you finance this deal?

I self finance all of my deals.

How did you add value to the deal?

Because it's raw land...there wasn't much I had to do to it...but after looking at the local comps and how other agents were marketing properties in the area I knew that they were over pricing these properties AND doing a terrible job at marketing the properties with the descriptions & images. ( So I did the opposite by pricing this property correctly, Improving the images, making a video about the property and building a very descriptive ad copy.)

What was the outcome?

I was able to sell the property within a few months.

Lessons learned? Challenges?

Make sure you provide ALL the information to potential buyers so that they can make the decision of purchasing the property that much easier.

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

Stewart Title in North Ogden Utah will be closing this transaction. I have used them a few times and they are outstanding.