952 Kunkel St., Seguin, TX Project
Short Sale – Bank told owners to find an investor.
House ARV (After Repaired Value) = $85,000
Our Purchase Price = $35,000
Repairs = $17,000
Closing/Carrying Cost = $3,000
Total Loan = $50,000
- 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.