This is why I LOVE real estate investing
We purchased an REO property for $201,000 after the bank asked $273,000 (I Guess it is true the saying "in real estate you make money when you buy").
The house had close to $400,000 in code violations and municipality liens. We negotiated with the city and eventually ended up paying around $4,000 only. We had to put close to $70,000 in rehab costs, holding costs etc.
After 5 months we were able to sell the house for $346,000 OFF MARKET.
Couple of weeks before the renovation was done, we decided to put a FSBO sign in the front yard.
Since the house had great curb appeal, we got lots of attraction and many showings.
We made a profit of almost $72,000 on this deal.
Another great success story!
May all investments will be the same as this one...