2212 Pecan Lane - Fix and Flip

[Ahmed Bayoumi]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $265,000
Cash invested: $65,000
Sale price: $418,000

This was a beautiful 3 bedroom home on a one-level floor plan. We gutted the entire home, built new kitchens and bathrooms, put a new roof on top and finished it with a brand new HVAC system! The house needed major plumbing work because the pipes had gotten badly corroded.

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

This deal was attractive because although it was occupied by squatters at the time of purchase, this allowed us to get a deep discount because no other investors were willing to take the risk of deal with a tenant holdover.

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

I found this deal on an auction site and I was the highest bidder

How did you finance this deal?

I paid for this deal in cash

How did you add value to the deal?

We put in major renovations to the home including a new roof, HVAC system, kitchen, bathrooms, flooring and appliances. We also replaced most of the plumbing as well.