Streamwood Tax Sale Townhouse Fund & Flip

[Michael Kevorkian]

Investment Info:

Single-family residence other investment.

Purchase price: $45,000
Cash invested: $1,000
Sale price: $85,000

Delinquent tax sale lead, direct mail lead source. Purchased the property using hard money, did nothing to the unit, just listed as-is and sold in 6 days to another investor. They rehabbed the townhouse and sold it for $140,000.

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

Great deal in a great neighborhood

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

Direct mail & negotiated over the phone

How did you finance this deal?

Hard money

How did you add value to the deal?

Bought it right

What was the outcome?

Sold to another investor who rehabbed it

Lessons learned? Challenges?

Tax sale leads are great!