Dog Killers House Auburn, MA

[Bernard Chouinard]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $89,900
Cash invested: $78,000
Sale price: $242,000

Off-market lead found threw news articles for some trouble the owner was in and learned of his vacant house. After reaching out to him found he owed too much so we worked a short sale that took about 4 months to complete. Once done we jumped in and started the work!

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

The original plan was to wholesale but since what was owned was too much we had to shortsale and found a partner that wanted to fund the deal so I jumped in.

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

We came across a news article about the owner being charged with animal cruelty for killing his dog by tieing him up in the basement and letting him starve to death. This article, it talks about how he walked away from the house so I tracked him down to his parent's house and made an offer on his house. Here is the article: https://www.masslive.com/news/worcester/2018/10/auburn_man_facing_animal_cruel.html

How did you finance this deal?

I found a money partner who lends and wanted to fund this deal.

How did you add value to the deal?

I found the deal as well as managed the project from end to end.

What was the outcome?

There was some delays and added costs, 80% of the electrical was replaced, all mechanicals was replaced, tons of pipes were replaced including broken cast iron pipes. There was a ton of mold issues as well and since the house was well known to the town inspectors they extremely vigilant on the work we were doing causing some delays. However, we pulled through and still made out at the end.