Property was inquired acquired for $136,000. Listed for $205,000. SOLD for $201,000. RETURN: $41,000.
Congrats! It must have been a pretty light rehab with those numbers. Was this an MLS listing or off-market?
What did you do?
@Andy Bankston Thank you! and it was a property purchased on HUBZU.com. Very few people were bidding on the property. I went to see it in person and inspected through all the windows to get a better idea of what I was dealing with and all it needed was a new kitchen, and new bathrooms. Floor/roof/A/C/electric were all in great conditions.
We also painted the exterior of the home and updated the landscaping. @Pyrrha Rivers
@Daniel Araque Great to have the additional details. I find that Hubzu has a bit of a bad reputation with investors which is probably why not many people were bidding on this one you got.
I purchased one from them in GA. It needed a lot in rehab but I knew that. I was able to inspect inside because there was a lock box and they provided my Realtor with the code. So I went in with my eyes wide open. What happened after with the rat of a contractor I found here on BP is another story, but the hubzu purchase for me was a smooth one. I read some very negative experiences from others, so I became a bit afraid to deal with them again in case I just got lucky, but here you had success also. Maybe I won't write tem off completely.
Congratulations again and thanks for sharing.
@Pyrrha Rivers Hubzu deals are either smooth or not at all from what I have seen. However when we are pretty affirmative we are hitting a deal it has been wise to take the chance and hit a smooth ride or a storm of problems.
I am glad you were able to success with your experience as well! :)
Great Job. I'm about to start rehabbing properties when I get additional training.
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