Fix and Flip in Jacksonville, Fl

[Mack Tolbert]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $90,000
Cash invested: $60,000
Sale price: $190,000

This property was given an ARV of $165,000 at the time of purchase. Plumbing issues and supply chain droughts led us to hold this property longer than intended. But, lucky for us, the value of the property only increased during this time and we sold for $25,000 more than we had expected to our first offer within only a couple of days.

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

Through the MLS.

How did you finance this deal?

Cash

How did you add value to the deal?

Updated major areas of the home.

Lessons learned? Challenges?

The biggest challenge here was getting the plumbing working correctly. We had so many issues! Luckily, we had the home inspected before listing and were able to get a head start on repairs.

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

Myself!