Fix and Flip in Indy, off of New York

[Jacob Messer]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $85,000
Cash invested: $65,000
Sale price: $185,000

This was one of our more complex projects. The demo and trash out was quite extensive due to hoarding. Before anything could be done to the upstairs we had to redo the subfloor because it had fallen through the ceiling onto the first floor. Once the extra framing was out of the way it was business as usual; Floors, Paint, Bathrooms and Kitchen.

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

We are always happy to take on ambitious projects; this house was in rough shape at the time.

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

Investor came to us and we agreed on a scope of work after some deliberation.

How did you finance this deal?

Hard money

How did you add value to the deal?

We created a sound scope of work and got in and out of the house on time and on budget.

What was the outcome?

Everyone made money, especially the investor. ~$45k or so would be my guess for him.

Lessons learned? Challenges?

Don't neglect your home and hoard. It isn't worth it for you or the people who will have to clean up once you're gone.

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

NA