South Kansas City 3/3

[Michael Bachmann]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $50,000
Cash invested: $87,000
Sale price: $231,500

This was a tax sale acquisition and was a mess. It had a living room and entry from the left side of the porch and also a large addtion including a great room with fireplace and dining area that accessed the living room through a door in corner of kitchen. Gutted to studs, rewired, replumbed, repairs to sewer line. Installed many larger windows. Most walls were moved upstairs to make more efficient use of space. Moved the entry from side to forward on the front porch. Living room was converted to a master bed with walk in closet and and bathroom with heated floors and walk in shower. Kitchen was lengthened to about 30' and cabinetry and appliances were rearranged and upgraded. 24X16 deck added to rear of house and a slightly larger patio was poored underneath. New roof and siding as well as stone veneer transformed the exterior. Added a 3rd bathroom in the basement near the walkout door to the backyard. Very nice house and sold for highest price on the street.

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

I had not yet done a fix and flip and this house was a good candidate.

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

Jackson County tax sale.

How did you finance this deal?

Cash.