He found that roughly 15,000 to 20,000 cars drove by the property on a daily basis and knew that if he was patient, it would interest a commercial developer seeking a prime location with steady traffic.
Brad purchased the lien on the half acre of vacant land for $823.71 in his IRA and sat on it until the one-year redemption period expired. His IRA was then awarded the deed title by rules of Indiana State Law. Because he only invested around $800, he could afford to hold the property until the right offer came along.
Two years later, it did. Brad’s IRA sold the property to a medical office developer who needed his land for additional parking for their building next door. It sold for $97,500 – over an 11,000 percent ROI.
Brad remembers, “There was definitely a little learning curve when trying to learn how the process works and make sure the paperwork is acceptable.” Equity Trust’s dedicated investment liaisons helped smooth out this process for him, and now he says he has a good feel for the process but takes solace in the fact that the liaisons are there when he needs them.