Main Street Auction Purchase

[Matthew Motley]

Investment Info:

Single-family residence fix & flip investment in Grand Saline.

Purchase price: $85,000
Cash invested: $50,000
Sale price: $247,000

Single family 3/1 with detached garage, renovated into 4/2.

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

It was my first auction purchase and came with an oversized lot.

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

Purchased in online auction.

How did you finance this deal?

Cash

How did you add value to the deal?

renovated to 4/2 and rented for $1795.00 / month

What was the outcome?

Selling this home to the current tenant.

Lessons learned? Challenges?

went over budget renovating this property, but it was worse condition than initially thought.

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

Worked with my realtor to purchase, rent and sell.