Fix and Flip in Fort Worth TX

[Ian Ouellette]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $190,000
Cash invested: $10,000
Sale price: $265,000

3 bd 2 ba 1,595 sqft
Type:Single Family Residence
Year built:1953
Heating:Central, Natural Gas
Cooling:Ceiling Fan(s), Central Air, Electric
Parking:2 Attached Garage spaces
Lot:10,149 sqft

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

I wanted to dip my toes into real estate and this was something I could bite off on my own.

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

I worked with a great realtor and we were able to negotiate very easily due to the owner being motivated.

How did you finance this deal?

I financed this deal alone which was tough but a great learning process.

How did you add value to the deal?

I looked at the kitchen being the biggest issue and the out dated lighting.

What was the outcome?

Outcome was a success!

Lessons learned? Challenges?

I learned about the need to plan for the worse, I would underestimate the cost of a project and it would end up costing me more time than originally projected.

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

Yes! Joseph Romero was a fantastic person and professional! Max Klinedinst was a great mortgage consultant.