Jan and Steve Bachman represented the seller on this investment property "flip" that went to settlement yesterday.
This great house in Centreville VA was purchased at foreclosure auction by Steve and Jan Bachman at the Fairfax County courthouse steps on behalf of the client who renovated and sold ("flipped") the property yesterday at a profit.
The 4 bedroom 3.5 bath town house has a walk out basement and backs to treed common area,which is what caught our eye when looking for property for our client to purchase.
After repair the property featured: New paint top to bottom....white ceilings, wheat colored walls and white trim to show off the brand new neutral carpet in the basement and upstairs and the shining hardwoods on the main level.
New granite counter tops encircle the brand new stainless steel appliances in the eat in kitchen.
This is the high quality work that you need to do in order to sell "flipped" property quickly.
All your sales expenses, and estimated repair costs must be predetermined before you bid on a property at auction.
In most cases, there is no opportunity to get inside and inspect the property before hand. You could be buying a "pig in a bag" and not know it.
This sort of investment should not be undertaken with money you cannot afford to lose. Much risk and liability falls on the purchasers of foreclosure property at the courthouse steps.
If you need assistance from experienced residential real estate investment Realtors call us or drop as an email. We have been in this game since the mid 1980s.
If you want to buy, fix up, hold and rent out investment property we are happy to help. We have a group of repair and property management folks that will take most of the tension out of owning rental property.
Below is a photo tour of this property. Click on the caption bottom left: "Picnic Show" and a full screen version will appear.
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