Single Story Abandoned Trap House
Investment Info:
Single-family residence fix & flip investment in Moreno Valley.
Purchase price: $210,000
Cash invested: $65,000
Sale price: $330,000
Single Story Moreno Valley home that was left abanded for a few years by the owner who owned this home for 30 years. He got tired of renters and people damaging the home and issues with the city. After contacting him a few times and getting him to agree to sell it. We agreed to a price that he was willing to accept. It was a quick and easy deal to put together. We were in and out of this investment in less than 4 months.
What made you interested in investing in this type of deal?
It was a fast easy and cost-effective investment
How did you find this deal and how did you negotiate it?
driving around for vacant homes
How did you finance this deal?
hard money
How did you add value to the deal?
updated the kitchen and bathrooms and painted inside and out plus moved a wall to open the kitchen to the living area
What was the outcome?
the outcome was we completed this deal from start to finish in 3 months and sold it for a good profit
Lessons learned? Challenges?
I learned that when a home is vacant and people break in chance are they will continue to break in have a camera system installed
