Investment Info:

Townhouse fix & flip investment in Aliso Viejo.

Purchase price: $540,000
Cash invested: $70,000
Sale price: $780,000

Contributors:
Ryan Mitchell

Seller and I had signed a wholesale contract. A few days later, after speaking with an Agent, he called to cancel our deal. I informed him, his agent and the agents broker that he could not. I have contingencies in my contract to protect me, but not the seller.
They decided to list the home and sell it. I hired a real estate attorney and sued him. We filed a law suit and clouded the title of the home so he could not sell. Three months later he came back to the table and agreed to sell the home to me.

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

I've been flipping for over 40 years.

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

Seller called from my webpage and asked me to come over and look at this mess. We signed a contract on the spot.

How did you finance this deal?

Cash

How did you add value to the deal?

Full Rehab

What was the outcome?

$150K profit

Lessons learned? Challenges?

Take your contract with you to initial meeting and get the seller to sign.

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

@RyanMitchell