7261 TAIT STREET, SAN DIEGO, 92111

[Wais Wali]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $335,000
Cash invested: $75,000
Sale price: $640,000

We had a very successful rehab.

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

It was a great deal it was inherited by this gentleman had a few city fines and he needed to sell.

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

We made wan agreement with the seller to not touch the loan and we rehab and sell the property and gave him $50K at closing. He was about to lose the home due to the fines and would have lost the whole equity in the house. We saved his $50K and we made a great profit it was a win win for us both.

How did you add value to the deal?

We rehabbed the home completely

What was the outcome?

We made a great profit and saved $50K of sellers equity and he was happy.

Lessons learned? Challenges?

We spent a bit more than necessary because our first contractor quite on us in the middle of the job.