Sale recap 2 family home in Hudson County

[Jairo Paredes]

Investment Info:

Small multi-family (2-4 units) wholesale investment in North Bergen.

Purchase price: $280,000
Cash invested: $360,000

2 Family home acquired at the Sheriff Sale. Purchased at 280K and sold at 360K.

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

Made several offers during the short sale phase. Non of my offers were accepted.

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

My realtor found this deal. Offered more amount during the short sale phase. Purchased it for 20k cheaper at the auction.

How did you finance this deal?

Personal and leveraged equity from my portfolio.

How did you add value to the deal?

Cleaned up the house. Fresh paint. Cleaned up the backyard.

What was the outcome?

Sold a few months later.

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

My real estate agent for this and most of my deals is Derek Gomez from ReMax Villa in North Bergen NJ. He is also on BP.