Historic Nightmare in Downtown Phoenix

[Keith Grayson]

Investment Info:

Single-family residence fix & flip investment in Phoenix.

Purchase price: $365,000
Sale price: $585,000

Shut down three times by the city based on neighborhood complaints that were completely unfounded

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

Huge margin from the purchase of $365,000 to close at $585,000

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

Wholesale deal with 9 other offers, and I beat them all in a race tot title with the EMD

How did you finance this deal?

Private Money Loan

How did you add value to the deal?

Cosmetic remodel and expanded the Master Bath

What was the outcome?

Multiple offers on day 1

Lessons learned? Challenges?

Don't trust anything they say at the Phoenix Residential Permit desk

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

Me