Residential lot minutes away from the Colorado River

[Palani (Pono) Wright]

Investment Info:

Other other investment in Topock.

Purchase price: $3,300
Cash invested: $4,100
Sale price: $10,000

This property was obtained from a mailer I sent to out-of-state owner who owned property in Topock AZ.

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

I saw that there was a high demand for property in that area.

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

I sent a mailing campaign to out-of-state owners who owned land in the area. I initially offered $3k but we settled on $3,300.

How did you finance this deal?

Personal Finance.

How did you add value to the deal?

When looking at the properties in the area that were available on Zillow, Realtor & Redfin...I saw two things. 1. is that the realtors who were listing the properties put very little work into information about the property and highlighting the attributes of the location but 2. were taking REALLY bad photos of not only the property but also the surroundings.
I just did the opposite.

What was the outcome?

I got a ton of interest with multiple offers but took the easiest one that was able to close quickly.

Lessons learned? Challenges?

1. Paint the picture for the end buyer.
2.Take good pictures of not only the property but the surrounding attributes.
3. Price correctly form the beginning.

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

I listed this property myself on my site, all my socials including youtube and zillow. (All Free)