Quick Fix and Flip $60K Profit

[David Oldenburg]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $465,000
Cash invested: $25,000
Sale price: $580,000

This was a classic fix and flip. Seller moving out of town needed a fast cash buyer. Work included, new flooring, new paint, appliances, backyard landscaping, and cleaning up. House sold in about 2 weeks on MLS.

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

I was called to invest my own cash. The seller needed to sell quickly and did not want to list on MLS.

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

I was brought into this deal by one of my investment group members who attends my events.

How did you finance this deal?

Cash

How did you add value to the deal?

The house was in good shape. Replaced flooring, baseboard, appliances, new paint, new sod and some basic backyard landscaping. Some of the work done by our team and some hired out.

What was the outcome?

The property sold for a good price and $60K profit after all expenses and rehab.

Lessons learned? Challenges?

Don't install sod on a 108 degree day!