1233 Oakwood Fix and Flip

[Vince Iacobelli]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $142,000
Cash invested: $65,000
Sale price: $289,900

Fix and Flip. Removed multiple walls, opened floorplan, re-designed kitchen, added half bath, first floor laundry and mud room. Full interior and exterior renovations.

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

This property had a 2-car detached garage, and relatively good interior condition when purchased.

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

This deal was found on market and was negotiated down in price from the listing price due to sewer line issues that we found during the inspection period.

How did you finance this deal?

We us Fund that Flip for purchase + rehab costs, and used a private equity lender to bring the down payment and funds needed to start renovations.

How did you add value to the deal?

We added value by performing a rather extensive rehab, modernizing the floorplan, and also adding a half bath and other amenities.

What was the outcome?

This property sold for about a $45,000 profit after sales and debt costs were deducted.