Pre foreclosure purchase

2 Replies

Investment Info:

Single-family residence fix & flip investment in Long Beach.

Purchase price: $360,000
Cash invested: $55,000
Sale price: $474,000

FIX AND FLIP PROPERTY IN LONG BEACH.

What made you interested in investing in this type of deal?

It was a short sale and I purchased it for a great price.

How did you find this deal and how did you negotiate it?

I found it through my marketing efforts and had a real estate professional negotiate it.

How did you finance this deal?

hard money

How did you add value to the deal?

added an enclosed laundry room and completely updated and remodeled the interior.

What was the outcome?

GREAT PROPERTY- and a great return

Lessons learned? Challenges?

This one took longer than expected as we had to submit renderings etc to the city as we were adding a room.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

YES, JENNY CHAIDEZ...SHES THE BEST!

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