Tax Foreclosure Fraser Condo

[Peter Dukaj]

Investment Info:

Condo fix & flip investment.

Purchase price: $45,000
Cash invested: $20,000
Sale price: $102,500

Fix and Flip condo purchased at a tax auction. The property fell into my lap as the highest bidder did not make good on his bid. The property was in a flood zone which made it difficult to sell, ultimately sold under market value to a cash buyer as the property could not be mortgaged.