Condo Foreclosure - Fix & Flip

[Scott M. Fletcher]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $195,000
Cash invested: $9,000
Sale price: $330,000

It was supposed to be a quick fix up and flip of a condo foreclosure, but the bottom dropped out. I ended up living in it for the next decade!

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

Online

How did you finance this deal?

Conventional Loan

How did you add value to the deal?

Added appliances, added a half bath, changed carpet, changed fixtures, re-tiled bathroom and kitchen, and painted all rooms.

Lessons learned? Challenges?

Be patient.