Wisconsin Fix and Flip

[Chris Bruni]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $40,000

This is a run-down property that I recently purchased. Will convert it from a 2 bed, 1 bath to a 3 bed, 2 bath and (hopefully) re-sell later this year. After repair value estimated at $175K. Repair budget is $53K.

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

I've had good success with these in the past and now that I have left my W-2 job I have the time to complete this while managing my rental businesses.

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

This deal came to me through a local wholesaler I follow.

How did you add value to the deal?

I will completely overhaul this property and expand it creatively while not changing the footprint.

What was the outcome?

Pending.. I just bought it and it will take several months to complete.

Lessons learned? Challenges?

Awfully cold in Wisconsin right now and I have no working heat in this property.