First Sheriff Sale with a POOL!

[Char Silk]

Investment Info:

Single-family residence fix & flip investment in Elk City.

Purchase price: $92,000
Cash invested: $8,500
Sale price: $153,000

This was a sheriff sale property that my husband and I did most of the work. We listed and sold the same day! It was our first sheriff sale purchase and also a home with a pool!!!

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

I wanted to try my hand at the sheriff sale and the area I bought in. This was also the first time my husband and I completed 95% of the work, usually we have crews and also we have always flipped in the metro areas, this was a more rural area for us to try

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

I have been watching the county website and thought this was the perfect fit for us

How did you finance this deal?

Commercial line of credit. Single pay at close.

How did you add value to the deal?

We painted and "modernized" the entire home, in addition, we did lots of "word of mouth" advertising that the home would be ready before we actually listed for sale

What was the outcome?

We were so blessed on this sale. We learned about marriage and construction (eeeekkkk) and how important finishing touches are

Lessons learned? Challenges?

The biggest challenge was the pool and the season we actually finished and marketed the pool, in addition, we were in a supply shortage, and we had to really research all the parts needed

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I listed this home myself and sold in office