Elk Lake Drive

Challenge

This property was a 3 bedroom, 2 bath, 1200 square feet garden style home and was in pre-foreclosure. There was a $92,000 balance owed on the property and the homeowner had given up and moved out.

Solution

We negotiated a short sale and were able to get the lender to agree to sale the property for significantly less. Resold to an investor.

By The Numbers

  • Owed: $92,000
  • Purchase: $39,000
  • Rehab: $0
  • Invested: $43,600
  • Sold: $62,500
  • Profit: $18,900