Condo fix & flip investment

[Aaron Jones]

Investment Info:

Condo fix & flip investment.

Purchase price: $35,000
Cash invested: $10,000
Sale price: $61,000

This was originally was supposed to be a wholesale deal. This turned to a fix/flip because the condo associate would not allow wholesale transactions. Due to the condo being in good condition, it was best to keep the deal and move to the option of getting a hard money lender, purchasing, doing a very light rehab and placing the property on the market with a realtor.

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

The price and it being an easy fix/flip

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

This was a word of mouth contact, then and I negotiated it as a wholesale

How did you finance this deal?

Hard money

How did you add value to the deal?

New carpets, paint and fixtures

What was the outcome?

Purchased all cash

Lessons learned? Challenges?

Always check the HOA policies