My First Fix and Flip Deal

[Matthew Talbott]

Investment Info:

Small multi-family (2-4 units) fix & flip investment in Baltimore.

Purchase price: $107,000
Cash invested: $10,000
Sale price: $212,000

2-unit townhome in Federal hill neighborhood of Baltimore.

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

Growing up I used to watch my dad flip homes as his side business. He would buy the most rundown, smelly, disgusting houses and turn them into modern homes that the neighbors would actually want to live in. When I was old enough I was so excited to actually help on his projects and even if I couldn’t contribute much I learned so much about the process from start to finish. I never realized the lessons and values I absorbed at that time would be so important in my life.

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

Wholesaler

How did you add value to the deal?

I added a full kitchen and a new bathroom to the downstairs unit. I also had the back patio/deck fixed and poured new concrete. I replaced the ceiling downstairs and added 4 additional lights. I had a 4 foot wide chimney taken down to make more space for the kitchen.

Lessons learned? Challenges?

What started as my first fix and flip
ended as my last project with my dad. He passed away before I sold my property but I know he would be proud.