Distressed seller got money to go to Cali

[Lauren Patrick]

Investment Info:

Single-family residence fix & flip investment in Deerfield.

Purchase price: $80,000
Cash invested: $40,000
Sale price: $153,000

Owner was behind on taxes, brought taxes current, rehabbed while making monthly payments to owner. Sold and made a ballon payment to owner.

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

Distressed Seller

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

Friend. It was hard to gain trust with owner.

How did you finance this deal?

Owner financed.

How did you add value to the deal?

Helped owner not to loose his house.

Lessons learned? Challenges?

Do a general inspection so your buyer isnt doing it for you.