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Updated almost 3 years ago,
Rental to Flip 1000 sf to 2000 sf
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $85,000
Cash invested: $65,000
Sale price: $275,000
1000 square-foot house did a lipstick remodel rented it for a few years added an extra thousand square-foot addition and sold it
What made you interested in investing in this type of deal?
I’m comfortable with construction.
How did you find this deal and how did you negotiate it?
Driving for dollars. Full price offer.
How did you finance this deal?
local commercial bank.
How did you add value to the deal?
Added 1000 sf and completely remodeled existing to match.
What was the outcome?
Under contract to seller