buy property in auction.com

[Yao Pan]

Investment Info:

Single-family residence buy & hold investment in Glenwood.

Purchase price: $188,000
Cash invested: $188,000

purchase this property in auction.com, win the bid at $188,000.

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

property located at city fast growth area, remodel this single house, subdivide this property and going to build six new single houses.

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

find it on auction.com.

How did you finance this deal?

find a partner and pay cash for this deal.

How did you add value to the deal?

use comparable market analysis for this neighborhood

What was the outcome?

one investor wants to pay $550,000 for this property but I don't want to sale it. I remodel the house on this property, subdivide it and build more houses on this property.

Lessons learned? Challenges?

had squatter in this property, I have to call the police to clear up this mess, spent $1500 to clean up the trash that homeless leave behind.