952 Kunkel St., Seguin, TX Project

DESCRIPTION:

Short Sale – Bank told owners to find an investor.

CHALLENGE:

House ARV (After Repaired Value) =   $85,000

Our Purchase Price =                                   $35,000

Repairs =                                                           $17,000

Closing/Carrying Cost =                            $3,000

Total Loan =                                                 $50,000

SOLUTION:

• House was in extremely bad condition.  Needed Everything – converted back to 1 car garage, gutted kitchen and bathrooms  Private investor lent $50,000 for purchase and repair costs.
• Listed the house on MLS and had multiple offers in 9 days.  Sold with new bank financing for 84,700
• Investor made $2,250 in 3 months.