First Purchase - Short Sale

[Kristina Lersbuasin]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $135,000
Cash invested: $27,000
Sale price: $216,000

First purchase. Purchased a short sale in the downturn. Lived in, slowly remodeled and sold when market appreciated.

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

It was what I could qualify for and they accepted my offer. It was incredibly difficult to purchase in this price range against all cash offers.

How did you finance this deal?

Conventional, to make deal look more appealing to sellers.

How did you add value to the deal?

Remodeled kitchen and bathroom.