Project Grant Street

[Natiesha Wray Henry]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $152,000
Cash invested: $100,000
Sale price: $400,000

This 1950s home seemed hopeless to many when I first saw it. The kitchen sink was being held up by an old chair and there were 4 layers of equally disgusting and damaged floors throughout the house. It was a true labor of love to transform the ugliest house in the neighborhood into a modern paradise for new family.

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

This house was passed over by many investors because it needed deep repairs. It was a great challenge but the pay off was well worth it.

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

This property was auctioned.

How did you finance this deal?

Hard money

How did you add value to the deal?

We added to the foot print of the house, making it a 3/2 where it was a 3/1. We updated the windows, doors, roof and electrical system.

What was the outcome?

The finished product was so beautiful! The house finally became livable again.

Lessons learned? Challenges?

Permitting issues seemed to delay us but thank God we made it through. This house was a difficult flip but a great learning experience.

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

I'm glad I was my own realtor because I didn't have to be convinced to stage the property, which GREATLY added to the value and reduced my days on market. My buyer even wanted some of the furniture, so I'm very glad that I didn't do as other flippers do and skip this step.