almondsbury ln aka hell house

[Mahmud Marhamo]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $100,000
Cash invested: $50,000
Sale price: $426,000

hell house. I found this house vacant. the front door was unlocked and indicated squatters at some point. inside the house I found a ton of trash, demonic related slurs spray paint on the walls, "hell house" "666" , animal and human feces on the floor along with unknown mix of slugs and grime all over the floors.

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

foreclosure, vacant and high equity

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

foreclosure lead, vacant and owner deceased. found out house is in a trust and that the only living son gets control of the trust on his 35th birthday. he's currently 29. until then, his aunt is the trust executor. his aunt lives in Lubbock so I did an overnight drive and got a hotel. I explained the situation and the condition of the property. they had little emotional attachment to the property and agreed to sell.

How did you finance this deal?

private money and subject to. borrowed the reinstatement and rehab. paid seller from proceeds

How did you add value to the deal?

good negotiating, trash cleaning, and flooring and paint, landscaping

What was the outcome?

225k profit and best deal to date

Lessons learned? Challenges?

make sure you're dealing with the decision maker. we spent a lot of time going back and forth with the son before we realized he was not the decision maker and his wants meant nothing.