1st (possibly only) Flip

[Michael Martinez]

Investment Info:

Single-family residence fix & flip investment in Ottawa.

Purchase price: $53,000
Cash invested: $31,000
Sale price: $115,000

Home was 110 years old and had had a renovation back in 2008. It was in need of a pretty large rehab as it had been neglected by the past owner.

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

Coworkers mother in law was buying it from her landlord so we just helped pay off what she owed and she turned around and sold it to us.

How did you finance this deal?

It was a cash purchase.

How did you add value to the deal?

New roof, siding, windows, flooring, insulation and fixtures. It was a complete overhaul on the inside.

What was the outcome?

House was sold for 115,000 which was 15,000 over what we thought we would get.