Bought and flipped foreclosure

[Margaret Stephens]

Investment Info:

Condo fix & flip investment in Atlanta.

Purchase price: $12,000
Cash invested: $18,000

Bought as an HOA foreclosure. Fixed it and flipped it. I staged the property to give buyers the feel of living there.

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

Good location for investing. Simple, quick flip.

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

Foreclosure listing

How did you finance this deal?

Liquid cash that I had waiting to find a deal.

How did you add value to the deal?

Sweat equity. I did all the clean out and staged it myself.

What was the outcome?

Beautiful property. Sold

Lessons learned? Challenges?

Find a company that has reasonable rates to clean out properties for you. Getting it ready to sell in a short amount of time was a challenge. Finding a good buyer that would pay enough for you to profit from the deal.

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

I worked with an agent.