Investment Info:
Single-family residence fix & flip investment in Columbus.
Purchase price: $50,050
Cash invested: $2,000
Sale price: $101,000
Contributors:
John Horner
Auction.com purchase! It had its ups and downs but we made it! Also got some private money in the deal and got them a nice return.
What made you interested in investing in this type of deal?
It was a first with the auction sites.
How did you find this deal and how did you negotiate it?
Auction.com
How did you finance this deal?
Used personal and private money.
How did you add value to the deal?
I knew the neighborhood well and had inside knowledge about the condition in which it was left in.
What was the outcome?
We returned the private money and made a profit!!
Lessons learned? Challenges?
Make sure when dealing with auction sites that the deed is in the banks name already.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
John horner was great to work with as a private leander.
