Purchased the Second at a discount

[Jim Quaschnick Jr]

Investment Info:

Single-family residence fix & flip investment in Folsom.

Purchase price: $575,000
Cash invested: $12,000
Sale price: $650,000

Personal that we paint carpet and misc minor repairs.

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

Time to sell.

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

This was a market rate purchase years ago.

How did you finance this deal?

5 year Arm with a 10% Second

How did you add value to the deal?

We purchased the 2nd at a 30% discount.

What was the outcome?

Bucks in the pocket non tax.

Lessons learned? Challenges?

Use a straw investor to purchase notes.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Old Republic Title Company - Denise Leath I have know here for some 20+ years. Great friend and escrow officer.