Elias Tsoukalis

Four Starr Property Solutions in Allenwood, NJ

Elias Tsoukalis with Alex Tsoukalis

We found the deal within 2 weeks of completing our full immersion. I had been actively looking for foreclosure properties on Zillow and had noticed a property that had a price cut of $10,000 that day. This peaked my interest so I looked further into the property. Realizing it was initially listed for $200,000 in 3/17. I found it for $154,900 on 10/27/17. We submitted a full price offer that evening, which was accepted the following day. It had taken over 60 days to close on the property, as it had $62,000 in HOA liens imposed on it, which took some time for the attorney to clear up. We started rehabbing the property right after the new year and took 4 months to complete with a renovation cost totaling $47,325. We put the home on the market at $274,900 on 5/1/18 had our first open house that Sunday, and received multiple offers on Tuesday. We accepted a full price offer and closed on 7/11/18. Our carrying costs on the property was $6,189.44 which left us with a Profit of $44,694 after all closing costs.