506 n washington Off market deal

[Joshua Kelley]

Investment Info:

Single-family residence other investment.

Purchase price: $10,000
Cash invested: $9,600
Sale price: $27,500

Found off market deal that needed ALOT of work. Very busy at the time, listed on the mls a few months later.

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

My wife and I drove by this house everyday. Zip traced the owner and worked out a deal.

How did you finance this deal?

Cash deal.

What was the outcome?

Listed the property for $27,500 and had several offers.

Lessons learned? Challenges?

Probably could have made more of a profit or turned it into a great rental. However, the property needed alot of work. Profits from this deal went into our next 2.

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

I am a Realtor.