Our First Tax Lien Sale

Upon the sale of our first two single-family properties, we used the proceeds in part to purchase an investment through a tax lien auction sale. Buying 6123 Moonglow on the county steps, we transformed this run-down, unsanitary home with good bones into a primary residence for a first-time homebuyer family.

Details

Purchased as a tax lien sale in June of 2014, this property was borderline uninhabitable. Being able to purchase the property for 50 cents on the dollar, we had room to add some above standard finishes in order to make it appealing to a new owner. Completing the project in 2015, we sold this property to a first-time homebuyer, realizing a strong return for the partnership.

Financials

Purchase: $47,000

Rehab: $40,000

Soft Costs: $7,000

Total Cost: $94,000

Sale Price: $120,000

Realized Profit: $26,000