Awesome "Flip" experience!

9 Replies

I will make mine very general. Back in September I purchased a property through an action. The scary part is it was occupied and by law I was prohibited from making any contact with the residents. A month prior to the auction I cased the property often. I don’t like the word case but it is what it is. Either way, me and a great friend from BP made contact the first day I owned it. Through a lot of strategic thinking, critical analysis, negation and a lot of luck, I was able to sell the property to the resident that was there. I tell you, this deal was like the Perfect Storm for me. I acquired it for 155k and sold it last week for 240k. There was a zero rehab expense and not even a dime was made on a repair. I and the new owner are mutually and incredibly satisfied!

What an experience……………

@Rafael Norat -

Yes, it was a cash deal from and online auction. My market in the DC area is saturated. I tried many different angles to get deals and it’s just that so many others are doing the same thing. Going the online auction route cuts out a lot of competition. No one wants to deal with occupied properties and no one will finance you. In addition, by doing cash deals it also eliminates a lot of competition.

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