All Forum Posts by: Philip L Hawkins

Foreclosures are rising rapidly in the western States with the foreclosure forbearance expiration July 31st.  Some home owners have skipped payments during forbearance and now can't afford to get current or refi.  The President's recent executive order doesn't guaranty any further forbearance.  Lenders and others who have been waiting to regain control of their properties instead of carrying debt or partial debt are now moving faster to regain properties before any political change might stop foreclosures across the board again.  Auctions will be happening soon in my area and others.  We are looking to develop relationships with solid investors who want to take advantage of falling prices in good areas.  We are searching and analyzing properties daily.  All cash offers will be desirable.  

I own a construction company and I am also an architect with years of design-build experience as well as real estate investment and development on a small scale.  I prefer to stick with 1-4 units at this time until unemployment numbers start to trend closer to normal.

I look forward to any interest within the BP community.  I have been a pro member since 2018.

Investment Info:

Single-family residence fix & flip investment in Auburn.

This post adds photos from previous Auburn project post.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $120,000
Cash invested: $160,000
Sale price: $489,000

Major renovation and 1,200 S.f addition on quarter acre, corner hillside site.
Original house was a 1970 stucco bungelow 2bdr/2ba
End result was a 4bdr/4ba custom architectural home including a single common wall self contained 400s.f. permitted, rentable guest house.
New 2-car garage with workshop and new full RV hook-ups

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

One of the least expensive homes in the area.
Incredibly strong public schools.
Corner hillside site 13 ft. above the street with a tree-line view.

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

Local realtor
Not much negotiation, deal was close to asking price

How did you add value to the deal?

Major renovation and 1,200 S.f addition on quarter acre, corner hillside site.

Lessons learned? Challenges?

Sell sooner, missed peak of the market for personal conflicting reasons.