6 months deal, closed yesterday

[Kevin Tran]

Got the keys yesterday on a 600k IRS tax complication.  Parents owed 600k to the IRS, passed the house to daughter.  Negotiated for a reduce payoff with IRS using her own lawyer.  Submitted my offer 6 months ago and stayed with it while others giving up.  Here is the numbers, not a home run but still a winner nonetheless.

4bd 2bd SFR 1750 sqft

Purchase price:  75k cash

Repair: 5k (I do all the work)

ARV: 95k

Closing cost: 600

Rent: 1000 (possibly 1100 after repair)

Looking at Line of credit to get cash out for the next deal