Operation UPPERDECK: Panama City, FL Fix and Flip

[Johnny Lynum]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $90,000
Cash invested: $21,000
Sale price: $209,999

🙌🏽 Today we got the clear to close on Operation UPPERDECK. This was one of our longest closings to date. The longest will be coming up in a few weeks possibly.
🏠We listed on the market on Sept 1, 2021.
💯We relisted the house on November 5th and went under contract again on November 8th.
🙌🏽Our profit on this one is around $55,000 but we just had to wait a little longer!

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?

I found this deal on zillow.

How did you finance this deal?

I used hard money for this deal.

How did you add value to the deal?

We did a complete remodel for this home.

What was the outcome?

We made $55k on this deal.

Lessons learned? Challenges?

FHA buyers sometimes run into issues during underwriting. Make sure you get a preapproval vs a prequalification and call the mortgage officer.

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

The listing agent represented me.