Sheriff Sale purchase turns into a "buy and hold" investment

[Sean Morrisey]

Investment Info:

Single-family residence buy & hold investment in Aurora.

Purchase price: $62,000
Cash invested: $62,000

Purchased at a County Sheriff Sale for cash and at a discount. Refinanced out to get 80% cash back after closing on the property.

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

Discounted condo purchased at a Sheriff Sale!

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

Weekly county list of auctioned properties.

How did you finance this deal?

Cash buy but refinanced out in 60 days to get 75% cash back.

How did you add value to the deal?

New flooring, lighting...cosmetic rehab. I rent it at a discount at $1050/month.

What was the outcome?

Rented to this day!