Foreclosure Auction Fix and Flip, North Spokane

[Melissa Murphy]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $89,000
Cash invested: $135,000
Sale price: $165,000

Foreclosure purchase.

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

Although the property was small, it is close to Gonzaga University, so strong resale potential.

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

Picked up at auction.

How did you finance this deal?

Cash at auction.

How did you add value to the deal?

Total remodel on the property. The crew again probably did too nice of a job for the location, price point.

What was the outcome?

Sold with multiple offers in a day!

Lessons learned? Challenges?

Our crew is awesome! And they prefer high quality, over builder grade.

[Nathan McLeod]

Did you make a typo on your numbers? or did you actually lose 59k on this flip?