This was too close to call
Investment Info:
Single-family residence hard money loan investment.
Purchase price: $350,000
Cash invested: $70,000
Sale price: $499,000
2 story Foreclosure, Vandalized
What made you interested in investing in this type of deal?
Looked like a good deal!
How did you find this deal and how did you negotiate it?
This was an auctioned foreclosure.
How did you finance this deal?
Hard Money Loan plus skin,
How did you add value to the deal?
70 k in Repairs and unloaded it fast!
What was the outcome?
HOA fee's, Mandatory Security System, Gate problems for contractors daily, basically walked away with everyone else happy
Lessons learned? Challenges?
In Retrospect i could have done 4 or 5 smaller deals and made more ROI. Don't put all your eggs in one basket, if one goes south the others will make up for it.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes
