5 Housman St, Danbury, CT 06810 fix / Flip deal.

[Justino G Peralta]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $180,000
Cash invested: $65,000
Sale price: $328,000

Bank owned REO. FIX / Flip deal for one of my private investors locally. Investor owner rented the property for couple years earned rental income $65k then sold at 328k with a profit of 55k total profit of 120k. the family who we sold it to are still living at the property. todays retail market value in 2022 of this single family home is at 400k.

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

This is what I do full time, looking for deals for my investors clients all day 24/7

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

REO Property on the MLS, back then it was easy to find great deals on the MLS. directly with the listing agent, Cash Offer private hard money lender locally from Connecticut.

How did you finance this deal?

Hard money lender 144,000 plus my investor own cash out of pocket. Interest rate was at 12% annually with a monthly interest payment of 1,440.00 with a 12 months term. today we are getting private funding directly from a local investor at 8% - 10% interest or a regular Flat fee amount payable at end of the private note.

How did you add value to the deal?

From start to finished I took care of the whole transaction for my investor client. from analyzing the deals and all required documents and paperwork of the purchase / sale to supervising the rehab work. I have experienced in the purchase and resale of REO Bank owned property and at the Auction Sale.

What was the outcome?

Great for us all. we all earned a little money in this transaction. my private investor was happy he earned over 100k on this deal alone. and at the end the new home owners are happy with a beautiful home of their own with great retail value over 400k todays retail value, that's is over 70,000 in equity they have available if they want to cash out in 2022.

Lessons learned? Challenges?

Working with a new real estate private investor, we all learned something new everyday in this business, but the experience was beautiful and rewarding at the end. every one was happy.

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

Today I am working as a full time real estate agent in my community and outside my own home base. still working with private investors we are still buying / selling Residential and Commercial property here in CT. after 15 plus years on this business I am still in love with the Real Estates business, I can work my business 24/7 with no problems. is not a Job is a life stile for me.