Operation POOLSIDE: Fix and Flip in Panama City, FL

[Johnny Lynum]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $125,000
Cash invested: $15,000
Sale price: $265,000

One of our 11 deals in Panama City, FL in 2021!

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

We fix and flip single family homes and invest the profits in multifamily.

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

A realtor brought it to me off market.

How did you finance this deal?

I used hard money and private investor capital.

How did you add value to the deal?

We replaced termite damaged wood, added new flooring, fresh paint, updated fixtures, filled in an old pool, and painted the exterior trim.

What was the outcome?

We flipped the house in 5 months for a $75k profit.

Lessons learned? Challenges?

Make sure your contractors don't cut the garage door wire after its installed.

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

An agent brought us this deal. I primarily work with Residential capital partners when we need my hard money on deals.