Very First Project - Greybull Wyoming auction find.
Investment Info:
Single-family residence buy & hold investment in Greybull.
Purchase price: $60,000
Found this property on Auction.com.We could see from the pictures in the report what looked like new ductwork, water heater, and mostly remodeled house. Scooped it up for at $60,000 on October 1st.
Today (11/21) we were finally able to get into the house and see the shape of it.
Check out this collection of the inside pics: https://drive.google.com/drive/folders/1Wua6E21bxiJVnWA4RSJcfwYJViO5Yeqz?usp=sharing
What made you interested in investing in this type of deal?
We had been looking and looking near where we currently lived and wanted something not too far away to start working on.
How did you find this deal and how did you negotiate it?
We found it on Auction.com, no negotiation needed.
How did you finance this deal?
Equity from our last house, all cash.
How did you add value to the deal?
The house was almost completely renovated already - most of the hard work had been completed.
What was the outcome?
Still working on it.
Lessons learned? Challenges?
Work with people near you - having to work with a lawyer from out of state was a nightmare.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Not yet!