Near Chattanooga Fix and Flip

[Sheila Smith Oliver]

Investment Info:

Single-family residence fix & flip investment in Harrison.

Purchase price: $130,000
Cash invested: $85,000
Sale price: $249,900

Purchased off-market from a REO (tax lien) while being managed by Auben Realty. They also brought the contractor and sold quickly. Added value by converting basement into a bedroom.

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

Good return with no travel needed.

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

Auben Realty

How did you finance this deal?

Hard Money from Wildcat

How did you add value to the deal?

Converted basement to bedroom.

What was the outcome?

50% Cash on Cash return

Lessons learned? Challenges?

Home had been vacant for years and the Inspector needed a gas mask to enter. Even the worse homes can have a good return with the right team.

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

Jason Weathers at Auben Realty