3/2 Twinhome live in flip

[Account Closed]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $148,000
Cash invested: $10,000

3/2 Structure is good, cosmetic only. Kitchen and both bathrooms will need update. Option to add small bedroom in basement. Full flooring, paint and doors needed.

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

Lack of availability. Qualified for conventional. Material prices were high, avoided any major projects.

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

Appraised above asking price. Offered 2k less due to sanitary conditions.

How did you finance this deal?

Conventional

How did you add value to the deal?

In progress

What was the outcome?

In progress

Lessons learned? Challenges?

While doing the pre purchase walk some plastic cartridges were found in the cabinets. Looked like a kids toy.
I now know what roach traps look like.