Fix and Flip right before Pandemic

[Franky Juwana]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $324,000
Cash invested: $60,000
Sale price: $455,000

Closed the house right before pandemic, and construction had to be put on hold for months

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

The Profit and experience

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

MLS and Negotiated a bit but owner wouldn't budge.

How did you finance this deal?

Cash with partner

How did you add value to the deal?

Gutted and remodel the whole house

What was the outcome?

Profit

Lessons learned? Challenges?

Must find out the survey and it must be updated. Challenges with neighbor which put the transaction in a bit of a hold.

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

Yes, but seller's agent was very un-professional.