Condo Flip - 601 Cabrillo Henderson, NV 89015

[Robert Adams]

Investment Info:

Condo fix & flip investment in Henderson.

Purchase price: $165,000
Cash invested: $24,500

This property is done with the remodel and new HVAc and we are in escrow. Should be closing in about a week.

Before, during and after videos available on our youtube channel look for REAL ESTATE INVESTMENTS Playlist: https://www.youtube.com/channel/UCz0kdYJNv1l_8dw42YErEpw?view_as=subscriber

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

i knew the condos in the area were hyper appreciating and once remodeled would sell for much higher.

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

it sat on the market for a while with no interior photos and a tenant in place that was not cooperative. No one could get in to see it. We negotiated a long escrow, the sellers to get the tenant out and all of our contingencies to begin once vacant. They never raise the price while the market went up and it sat there, then it went up further while we were in escrow and the tenant was moving out. We then closed remodeld and now are selling.

How did you finance this deal?

self directed ira cash funds

How did you add value to the deal?

full remodel and new hvac unit

What was the outcome?

should be closing next week or two for a profit

Lessons learned? Challenges?

long escrows in an appreciating market can be a good way to gain equity. long DOM can also elp in this regard if no price adjustments were made.