Northlake Illinois Single Family as-is flip

[Michael Kevorkian]

Investment Info:

Single-family residence other investment in Northlake.

Purchase price: $90,000
Cash invested: $1
Sale price: $167,000

Delinquent tax sale lead. Marketed direct to owner via postcard mailing. They called in and after several months of back and forth I finally got the contract signed. The property had a tenant in it so there was a bit of time to wait for them to first try to get a mortgage to buy it, then when that fell apart, it was listed on the MLS and sold right away in as-is condition.

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

The price and neighborhood

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

Direct mail and over the phone negotiations

How did you finance this deal?

Hard money loan

How did you add value to the deal?

Bought it right

What was the outcome?

Sold for a good profit