Hoarder house turned into Dream house

[Drew Y.]

Investment Info:

Single-family residence fix & flip investment in Bay Point.

Purchase price: $365,000
Cash invested: $75,000
Sale price: $492,000

Major fix and flip, hoarder house turned into dream house.

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

We were brought this by another investor that didnt have capacity to complete deal or vision to what it might become. We turned a lemon into lemonade and made a 21% profit in less than 3 months

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

Networking with wholesales and investors.

How did you finance this deal?

All Cash

How did you add value to the deal?

Repairing and updating

What was the outcome?

21% return on capital invested in 3 month time frame, annualized return of 85%

Lessons learned? Challenges?

Makes sure you wear gloves and get large dumpsters when dealing with hoarder houses. Bomb for fleas and other pest before you go in, wife and kids dont appreciate you bring home fleas no matter how much money you make.