Dickinson Narrows Flip

[Dan Powers]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $160,000
Cash invested: $85,000
Sale price: $360,000

This great property in Dickinson Narrows immediately stood out to my investor. Being already cleaned out this project was an easy sell because the area speaks for itself. This property needed a full gut but nothing out of the ordinary, with comps in the area selling 350k+.

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

What made my investor interested in the property was first of all the area, being one of the hottest areas in South Philly it sells itself. Also being a straightforward gut with no major X factors involved is an easy project to take on.

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

This deal was sourced through New Western Acquisitions and was sold first come first serve.

How did you finance this deal?

This deal was financed using a hard money loan

How did you add value to the deal?

Value is being added to the deal in the form of a full gut rehab, adding HVAC, finishing the basement, adding a 1/2 bath on the 1st floor, and cosmetics throughout

What was the outcome?

The outcome will be a great rehab in a fantastic area of South Philly.

Lessons learned? Challenges?

No challenges on this property, just a smooth closing.

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

Dan Powers - NWA