Flipped house in Panama City, FL

[Eugene Ursu]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $118,000
Cash invested: $110
Sale price: $350,000

We purchased this house and restored it. The house was severely damaged by hurricane Michael.

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

I wanted to make some money.

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

I called the owner, we set up an appointment and then negotiated the price.

How did you finance this deal?

My own money.

How did you add value to the deal?

We bought low and did a high quality remodel.

What was the outcome?

We sold at a profit.

Lessons learned? Challenges?

It was an extensive rehab project, so it took a while but we got it done.

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

No.