109th Place Flip in LA

[Shonelle Blake]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $285,000
Cash invested: $70,000
Sale price: $449,000

SFR in very bad shape. Bought it as a 2/1 and sold it as a 3/2. Converted garage to a master suite, new fence and landscaping.

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

Found it on MLS. Seller was motivated and they ultimately worked with me through the issues with the lender.

How did you finance this deal?

Lots of issues with the financing with lenders changing the terms while in escrow. Finally did seller financing for acquisition and spent another 3 months to get the rehab funds from private investors and got it done.