Quick Turn on a Foreclosure

[Chad Shultz]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $144,324
Cash invested: $187,327
Sale price: $263,650

Purchased this foreclosure property through the county auction. We worked along at a good pace, until we got stopped by the County for missing a permit on a small concrete pad. This delayed the project about 6 weeks. This was a full gut renovation to include new kitchen and bathrooms with custom tile and granite, new LVP throughout, paint inside and out and new windows. This home only spent three days on the market with multiple offers coming in. Another nice project with great returns.

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

I have done several of this type of properties over the past few years and specifically a few in this particular neighborhood. I was comfortable it would sell quickly.

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

This was a foreclosure property, purchased at the County auctions.

How did you finance this deal?

We used personal cash for the deal.

How did you add value to the deal?

We did a complete house renovation, including windows.

What was the outcome?

Quick sale for cash.