Pre-foreclosure Rescue, Subject Too/Flip

[John Slater]

Investment Info:

Single-family residence fix & flip investment in Norco.

Purchase price: $481,000
Cash invested: $100,000
Sale price: $650,000

Pre-Foreclosure just days away from an Auction Sale. We purchased the property "Subject too" and brought the default amount current. part of the deal was to purchase a $20k RV (with solar) for the seller to move in to.
Minor rehab to completely clear out the property for a quick re-sale to a major investor!
They flipped it and Sold in 2022 for $849,000. Win/win for everyone involved.

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

Helping a homeowner to avoid foreclosure and giving them options.

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

Door-knocking pre-foreclosures was the lead source

How did you add value to the deal?

Stopped an imminent foreclosure sale.

What was the outcome?

Win win for everyone. We purchased the property, and resold it to a major investor in the area.

Lessons learned? Challenges?

Deal with the RATS first!