County Tax Sale, first property, great turnout

[Kesha Ferguson]

Investment Info:

Single-family residence fix & flip investment in Latrobe.

Cash invested: $3,200
Sale price: $130,000

Purchased from County Tax Sale

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

We had limited funds, but wanted to start our journey.

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

A lot of research into Tax sales etc. Found the county tax list, narrowed down a few properties. We picked one. Drove by different times of day and night, knocked on the door, more research, title search and finally entry to the court house to purchase. We wanted a property that was unoccupied; so it worked out.

How did you finance this deal?

Tax refund.

How did you add value to the deal?

Remodeled the kitchen, added a bedroom, remodeled the bathrooms, painted inside.

What was the outcome?

Just sold it a few months ago for about 130k.

Lessons learned? Challenges?

This house was in great shape, previous owner did a good job, we (wife and I) probably only needed to paint the kitchen, and probably didn't need to put as much into as we did. It was our first property and we learned alot.

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

We have a real estate agent who sold it for us, but we bought the property ourselves.