Bought at a sheriff sale and had it under contract in 9 days

[Chad Days]

Investment Info:

Single-family residence wholesale investment.

Purchase price: $62,000
Cash invested: $62,000
Sale price: $75,000

Bought at a sheriff sale.

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

This was our first sheriff sale purchase. We had been looking into them for a while and finally pulled the trigger on a house in a small town i work in. Ended pretty good.

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

I watched the online sheriff sale listings and seen this one was in our local small town. I was the only one to bid on it and got it.

How did you finance this deal?

It was a cash deal.

How did you add value to the deal?

I ended up not doing anything to the house and was able to flip it fast. I could have made more if i would have fixed it up but i am happy with were we ended up on it.

What was the outcome?

Sold for a $12k profit in 9 days. It still had a person living in the house and he wasn't showing any signs of moving out fast so i was glad to walk away with that profit and let the next guy kick him out.

Lessons learned? Challenges?

How a sheriff sale works. I had read about it and watched several videos but I learn best by doing and that is what I did and it paid off.

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

I did not