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I purchased this house from a wholesaler for $200,000 + a $5,000 wholesale fee on August 28, 2006.
I was not able to see the inside and purchased it after only driving by the outside. It came with a tenant in place.
She was the mother of the brothers who sold the house to the wholesaler. I had not done any rehabs at this point.
I asked around at the local real estate investor's club for a rehabber. George Allen referred me to one of his guys
since he was no longer in the flipping business.
I put about $5,000 into the house and sold it for $272,000 on November 16, 2006.
I did not know how to do the paper work so I hired a local agent to do it for me for a flat fee. |
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