First Columbus Flip - 39% ROI

[Ryan Toopes]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $80,000
Cash invested: $55,000
Sale price: $228,000

3 bed 1 bath in Franklinton (Columbus). Went a little over budget on the rehab but we were able to recoup all costs on a premium exit price.

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

Appeared to be a pretty cosmetic fix and flip, expected to be in and out in 6 months. We held a little longer due to some neighbors in the area causing havoc.

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

On the MLS, we were the only offer. Came down on price based on work needed.

How did you finance this deal?

Leveraged with Lending Home

How did you add value to the deal?

Finished the attic adding additional living space. Removed an unsafe covered porch structure and turned it into a rear deck. Updated the finishes throughout. Refinished original hardwood trim/stairs and railings.

What was the outcome?

Was on the market longer than expected, but we still delivered a 39% ROI to investors.

Lessons learned? Challenges?

Always be aware of the surrounding houses on the block.