Cape Coral Hardmoney FixFlip/Buy Hold

[Pafoua Vang Xiong]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $170,000
Cash invested: $42,000

Received lead through a direct mail campaign. Out of state seller who did not want to deal with the renters and the original 1967 home with no renovations.

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

It was a low priced deal via an out of state seller.

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

Direct mail campaign. I offered cash and fast close.

How did you finance this deal?

Hard money loan.

How did you add value to the deal?

I'm a real estate agent. I knew the area. But I also worked with hard money lender agreement.

What was the outcome?

I agreed to inherit the renters for 2 months not paying any rent. They should be getting out by then.
Then I will begin the process of renovations with 18 months in total.

Lessons learned? Challenges?

Keep looking for leads via mail campaigns.

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

I didnt work with any real estate agent. I am a licensed real estate agent.