Fix and Flip Deal | May 2022 - July 2022 | Spring, Texas

[Wale Lawal]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $195,000
Cash invested: $48,600
Sale price: $272,250

Another investment property closed. Congratulations to myself on this one.
I am glad I was able to help my local neighbor
Onto the next one!

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

The location and the desire to help a senior citizen out of a situation.
Also to provide quality housing to another family

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

Car Magnet Sign on my car that mentioned that I buy houses without any hassle to the seller.

How did you finance this deal?

Private Money for acquisition and my personal money for the remodeling.

How did you add value to the deal?

New 35-years shingle roof, Freshly painted, New Electrical Fixtures, New Kitchen, Update Bathrooms, New Water proof vinyl flooring, new garage door, new AC, Updated Electrical Panel, New Water Heater, Foundation repair, landscaping etc.

What was the outcome?

The result was a win-win for all parties involve.
For the seller, me (the investor and realtor), the end buyer and the buyer agent, the neighbors and the subdivision because they are happy with the new look and condition of the property.

Lessons learned? Challenges?

Always work for a win-win solution with a seller.
Never be afraid to tell people about what you do and what you represent.
It always pay back to help others.

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

I work with myself (as the listing-agent) and the seller, escrow officer and the buyer agent.
No conventional lender or hard money lender involved.