Manassas Fix n' Flip

[Brian Beck]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $320,000
Cash invested: $25,954
Sale price: $505,000

3rd Fix & Flip (Purchased, 2nd to Sell) in Manassas, Virginia. 4/2.5/2,104SF contemporary on a half acre. Realtor friend who I've known for a while found it for me after the original buyer backed out, we were able to get it utilizing a hard money loan and private money to finance the rehab leaving us with only about $25K invested in it. Rehab came in at roughly $80K . After closing costs, financing costs, commissions and holding costs it left us with a pretty good profit for a relatively low-risk and quick (3 Months, 3 Days) project. Mostly a cosmetic rehab. I was much more active in the project management of this one and given the location able to utilize a large number of my own crews with whom I've worked for the past 7-9 years in my W2. Definitely excited about this one, looking forward to doing more in Northern Virginia.