3953 E Mound Fix and Flip

[Vince Iacobelli]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $138,000
Cash invested: $30,000
Sale price: $224,900

This was a straightforward fix and flip. The house was is good cosmetic condition so we added high end finishes to the kitchen, bathrooms, and common areas.

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

This property was in great condition when we purchased it, and is in a good location with strong buying demand in this price range.

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

This deal was found off market from a local wholesaler. We competed with several other investor buyers to win this offer.

How did you finance this deal?

We used a hard money lender to fund the purchase + renovations and used a private equity lender to fund the down payment and startup funds for the rehab.

How did you add value to the deal?

We added value by renovating the condition of the property.

What was the outcome?

The property was sold at list price.

Lessons learned? Challenges?

You must take the time factor of money into consideration, this was a deal that was exceptionally quick and was renovated in only 8 weeks. While we did not hit a home run on profit it was an easy simple deal to perform.