I'm seeing this house that was easily worth 175k. It foreclosed for 65K left on loan. It sold for 45K a couple months later. Then a couple months after that, it sold for 70K. I saw construction crews working on it at some point after the foreclosure but not sure if it was before the first sale or after. In any case, considering the price at which it was first bought, then later sold, and it's value, I suspect the house was purchased by one investor, who then decided to flip it to someone else, possibly another investor. I find it unlikely that the occupant bought it for that price and fixed it up to live in.
In any case, if this is indeed the case, how successful is this, and what are the risks? Do you buy the houses at bargain basement prices and put them back on the market untouched to flip to another investor at a reasonable profit for you but still low enough that it's a deal for another investor (almost like wholesaling except it actually sold twice in the above scenario).
