Fortville Flip Success

[Anastasia Gamino]

Investment Info:

Single-family residence fix & flip investment in Fortville.

Purchase price: $52,000
Cash invested: $140,000
Sale price: $217,000

Total Gut Rehab Flip

Purchase Price 52,000

Renovation Costs 90,000

Realtor Fees & Closing Costs: 8,000

Buyer Concessions: 5,0000

Total Profit: Over 60,000

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

It was a steal for Fortville which is a growing northern suburb in Indianapolis close to Fishers.

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

We bought it from a local wholesaler.

How did you finance this deal?

We used money from our past BRRRR deals.

How did you add value to the deal?

We did a total gut rehab and made the house brand new!

What was the outcome?

Total 60k in profit

Lessons learned? Challenges?

Pulling permits and additional inspections will drag out the rehab process....we were lucky because the market was going up! We definitely got better with estimating renovation costs with this deal since we did everything!

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

Nuparadox
Flat Fee Realtor- Liberty Real Estate