Each property I have purchased has been a learning experience but none more so than my first. I got carried away at the auction and bid more than I had planned. It turned out the property wasn't worth as much as I had
thought. It took a couple of years to be able to resell that property, but I eventually did so at a very slight profit. With each successive purchase I learned to research a bit better, and I also learned to restrict my purchase price even more. The second property I acquired was turned around within one year at a bit larger profit than my first. The third property I bought was what I consider the triumph of my land speculation career, at least to this point. I was
able to sell that property in half a year at a very good profit. It was a cash sale in which I doubled my investment.I don't know that I will be able to double my investment in this one, but I do hope to make a little money with this new four acres. |