Pharr Texas VA Foreclosure Flip

[Boone Tyson]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $90,000
Cash invested: $16,000
Sale price: $135,000

Awesome property. Purchased as VA foreclosure. They had completely stripped the property, but had done a really clean job when they took everything out. We basically had to add an AC and hot water heater, add lighting, rebuild the kitchen, and touch up paint. Property was almost new because it was built in 2015.

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

First ever VA foreclosure deal.

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

MLS - paid full asking price. It had a 3-5 day waiting period for investors and I submitted my offer 30 minutes before the waiting period was up.

How did you finance this deal?

LOC

How did you add value to the deal?

Refinished the interior as it had been stripped of anything valuable.

What was the outcome?

Flipped. Under contract within a week on the market I believe

Lessons learned? Challenges?

My favorite flip ever. Easiest one we have ever done.