Lien Reduction Negotiation boosted Profit
Investment Info:
Single-family residence fix & flip investment in West Palm Beach.
Purchase price: $79,000
Cash invested: $42,000
Sale price: $209,900
SFH with a lien that was 3x the sale price of the property. After fixing code violation I negotiated lien reduction with the city to just 2% of the lien fine. This boosted my profit automatically.
What made you interested in investing in this type of deal?
The potential profit with a lien reduction
How did you find this deal and how did you negotiate it?
Wholeseller, negotiated a few bucks down
How did you finance this deal?
Cash
How did you add value to the deal?
Fixed the property, added color, improved landscaping, new roof.
Lessons learned? Challenges?
Taking action and calculated risks is the key to success
