Second deal - 1895 Victorian

[Tracy Franks]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $290,000
Cash invested: $150,000

Second deal - 1895 Victorian in Galveston East End Historic District

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

We like old homes

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

MLS. It had been listed for about six month with numerous price decreases. One previous offer had fell out.

How did you finance this deal?

Hard money and our cash

How did you add value to the deal?

Converted from 3/2 to 4/3. Opened floor plan

What was the outcome?

TBD!

Lessons learned? Challenges?

Theft occurs... New outdoor AC unit stolen

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

Yes, Amy Kershner. Again Amy is helping with vision and finishes.