BRRRR Turned Flip for $85K profit to existing client

[Matthew Morrow]

Investment Info:

Single-family residence fix & flip investment in Coplay.

Purchase price: $105,000
Cash invested: $150,000
Sale price: $230,000

Off Market, Single Family Flip. Customized and sold to client who was able to pick each detail of the project in a crazy real estate market. No competition or advertising. $80K profit, zero personal cash used in deal.

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

Deal from our home town-

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

Direct mail & door knocking

How did you finance this deal?

Cash purchase / rehab cash from prior deals

How did you add value to the deal?

Massive renovation. Added finished SF, Master bedroom / bath. Flooring, Paint, Lighting, etc

What was the outcome?

Sold to Real Estate client who was able to customize the deal from the ground up without competing in the market.

Lessons learned? Challenges?

Seller passed away 1 week before settlement. Dealing with the estate was very educational and eye-opening.

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

Self Purchased as RE Agent