REO Mold House

[Kirby Matthews]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $32,000
Cash invested: $68,000
Sale price: $96,500

REO purchase, rehab and flip all cash. +$28k ROI

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

Wanted a full rehab using all cash.

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

MLS listing and made a full asking price cash offer.

How did you finance this deal?

Cash

How did you add value to the deal?

Full rehab.

What was the outcome?

Profited about $28k though the rehab took a while.

Lessons learned? Challenges?

Lost my contractor early so general contracted myself which was a PITA.