All Forum Posts by: Alexander Goodson

Investment Info:

Other buy & hold investment.

Purchase price: $50,000
Cash invested: $2,000
Sale price: $100,000

44 acres of raw land with frontage on deer lake. I got an address for it, cleared some land and hooked up electric. The neighbor didn't want us to build there and he ended up buying the property.

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

Saw value where no one else did everyone was perplexed why I wanted to buy a swamp. I liked what I saw

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

Negotiated during the lockdown which helped in my favor.

How did you finance this deal?

Cash

How did you add value to the deal?

Developing the property

What was the outcome?

Profitable with minimal investment

Lessons learned? Challenges?

Taxes on property with lake frontage are very expensive

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $84,000
Cash invested: $10,000
Sale price: $165,000

Single family home (manufactured)

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

Blessing in disguise. Wanted the 60 acres across the street and couldn't get it so bought this house on 3 acres instead.

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

Saw on zillow and wasn't interested in it at first but then saw the view in the backyard and knew it was the one. I live for the views baby!

How did you finance this deal?

Cash

How did you add value to the deal?

Saw value where no one else did.

What was the outcome?

Got my first place, made some cash, and learned a lot.

Lessons learned? Challenges?

Always check for a reset button before calling an electrician.

First time landlord and I've got this couple applying that are telling me their 2 dogs are emotional support animals and that they don't need to tell me about them and don't need to pay a pet fee. I found an article saying a bill passed in michigan claiming landlords can request a notorized letter from a healthcare provider backing up their cliams of their pets being an emotional support animal. I was wondering if anyone knows anything about if I'm allowed to request that info or if that violates a law. Also the couple used to live in chicago where they're apparently involved in small cliams over destroyed carpeting and they didn't provide me with that landlords info. Any help would be very appreciated.