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Updated almost 3 years ago,
Fix & Flip Deal in New York City
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $300,000
Cash invested: $75,000
Sale price: $580,000
We bought this property occupied site non seen... seller had a family member that occupied the property and deter potential buyers from seen the property. we succeed to negotiate with the tenant and get the property vacant and ready for sale. we sold the property as is with nice profit.
How did you find this deal and how did you negotiate it?
property was on the market. the fact that we had to buy it unseen gave us the option to offer a low price
How did you finance this deal?
Hard money
Lessons learned? Challenges?
in this market you need to do have the ability to deal with properties that no one else want.