Renovated condo in Lakewood, Ohio

[Leann Rafton]

Investment Info:

Condo fix & flip investment.

Purchase price: $37,000
Cash invested: $16,000
Sale price: $119,000

Gutted and renovated high rise condo on Lakewood's Gold Coast. 1 bedroom, 1 bathroom, 687 square feet.

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

Off market, through probate.

How did you finance this deal?

Cash

How did you add value to the deal?

Used all new, high end, materials. Removed wall separating kitchen and had to rewire electric. Unit is currently the only completely open floor plan in the building.

What was the outcome?

Sold for over asking price in 4 days. Set a record for highest sale 1 bedroom in the building.

Lessons learned? Challenges?

Working together as husband and wife.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I am a licensed agent.