1st possible flip / maybe take out equity and rent

[Alberto Moravia]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $67,000
Cash invested: $67,000

East side property close to downtown. $67k cash - had to spend about $2k to get tenants evicted and the house is trashed. Will be a full gut and hopefully flip for around $100k profit. Needs everything.

What made you interested in investing in this type of deal?

Stumbled on the deal / under market with good value increase.

How did you find this deal and how did you negotiate it?

Owner had 2 properties with tenants - low balled offers for both w a 2nd person and they accepted so we split them. Took 2-3 months to evict.

How did you finance this deal?

Cash

How did you add value to the deal?

I believe property is under market as there is the same house rehabbed and selling for 200-240k. Will need to add bathroom, foundation, siding, electrical, all the above - estimating rehab costs at around $50k with me doing a lot of the work.