Winner, Winner, Chicken Dinner - We Won the Auction!!!
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $109,000
Cash invested: $40,355
Sale price: $220,000
Three bedroom ranch located on over an acre of land in Gardner. Close to golf course and several parks and forests. Easy access to several major routes. Property features a wide open basement space, gas heat, well water and fantastic location for someone that is looking to be away from the crowded city.
What made you interested in investing in this type of deal?
We have done a lot of business in Gardner, we have sold a lot of real estate & flipped other properties; we know the town really well.
How did you find this deal and how did you negotiate it?
Property was listed with a specialty broker, but eventually went to foreclosure auction & we won the bid!!!
How did you finance this deal?
Fix & flip financing.
How did you add value to the deal?
Spent about $25,000 on renovations, the renovations were mostly cosmetic.
What was the outcome?
We made $65k on the deal.
