That's 5171 Mahogany Ridge Drive in Naples, FL.
Built in 2006, never lived in, 3,845 square feet on a rare 2.5 acre lot.
A month ago, it sold as a foreclosure for $350,000.
My real estate agent buddy down there tells me the buyer just flipped in for about $550,000. Nice scalp, huh?
Apparently the flipper hangs out at the courthouse day and night waiting for opportunities like this to fall through the cracks.
It's a dangerous game - buying a foreclosure - but there's certainly profit potential in it for those flush, intrepid souls who know what they're doing.
1 comment:
Ballsy move doing this today. Bravo.
Slow out.
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