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Updated almost 3 years ago on .

User Stats

6
Posts
4
Votes
Mike Kolbrener
  • Real Estate Agent
  • Cave Creek, AZ
4
Votes |
6
Posts

1940s Phoenix Bungalow Fix and Flip

Mike Kolbrener
  • Real Estate Agent
  • Cave Creek, AZ
Posted

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $249,000
Cash invested: $65,000
Sale price: $350,000

Extensive Reno on 1940s Pheonix bungalow

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

Highly distress, historic small property had a lot of upside potential.

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

Purchased through one of my wholesaler resources.

How did you finance this deal?

Hard money + cash

How did you add value to the deal?

Complete renovation of this trashed property into a highly desirable home that quickly sold for solid profit margin.

What was the outcome?

4 month renovation and sold for solid profit margin.

Lessons learned? Challenges?

Prefer to flip less distress properties moving forward. Get in and out quicker.

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

I was the owner, agent and GC on the project. Hard money lender was Capital Fund 1 based in Scottsdale.