Foreclosure live and flip

[Daniel Church]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $60,500
Cash invested: $40,000
Sale price: $205,000

Hoarder house foreclosure. 150 contractor bags, and a couple rollaways of garbage later we could start the demo. New windows, doors, Lp siding, fixtures, flooring, Sheetrock, kitchen, bathroom, trim and stairs. Relocated the laundry room, Finished the basement, made the kitchen and living room an open concept, extended the deck and added a back patio door, and more.

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

Low price high reward

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

I found it on an auction site and contacted the realtor/broker who was my neighbor in my last house.

How did you finance this deal?

Cash to buy then we did a Heloc.

How did you add value to the deal?

Repaired, reconfigured, and replaced most of the house.

What was the outcome?

Learned a lot and made money so it was a win.

Lessons learned? Challenges?

Trying to figure out what previous work was done and why. Trying to understand their theory but things didn’t add up so I redid it the right way.