Revitalizing Investment Properties

[Deonne Eaton]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $5,000

Purchasing this zombie property from the Birmingham Landbank Authority. Earnest money has already been paid, awaiting to go to the closing table to finalize the deal.

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

Passionate about revitalizing neighborhoods within my community to provide affordable housing for low to middle income families.

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

I found this deal through the Birmingham Landbank authority's tax deed property disk I purchased from the Tax Assessor's office. Awaiting to go to closing through the quiet title program.

How did you finance this deal?

The earnest monies were paid out of pocket.

How did you add value to the deal?

I plan to add value by changing the floor plan to an open concept floor plan. In addition, I plan to enclose the back porch to add an additional bathroom and a laundry room. This will be a total gut renovation project.