Sheriff Sales DO work, sometimes!

[CB Sanders]

Investment Info:

Single-family residence fix & flip investment in Freehold Township.

Purchase price: $72,000
Cash invested: $26,000
Sale price: $130,000

Worried about my first purchase at sheriff sale! Worked out great, despite the rough condition of the property. Could have gone horribly wrong, so put some fudge in your numbers.

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

Risky, but worth it in education.

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

Scoured the sheriff sale list and the public records to avoid properties with additional liens and judgments.

How did you finance this deal?

Self-funded

How did you add value to the deal?

The value was in the gained knowledge.

What was the outcome?

SCORE! Which means I did not lose money and gained a ton of education.

Lessons learned? Challenges?

Do your due diligence. Make sure that the property does not have additional encumbrances (taxes, liens, judgments, etc.) and if so, be sure to work them into your numbers.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I am a licensed NJ Real Estate agent.