First time Buying and remodling for resale

[Daniel H Bennett]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $175,000
Cash invested: $145,000
Sale price: $365,000

Down to studs full renovation.
.33 Acre lot, Was 2 bdrm 1 bath 1200 sq ft
Now 3 bdrm 2.5 bath 1700 sq ft
added concrete patio and 2 car added turnaround slab

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

Wanted to learn more about house building and renovation

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

Had a realtor

How did you finance this deal?

Private investor

How did you add value to the deal?

added bedroom and bath and a half

What was the outcome?

Made a little money but learned alot, priceless

Lessons learned? Challenges?

Buy right, have reliable subs, submit plans as soon as possible, listen to your realtor, be helpful to the inspectors, and do the math with accurate imputs.

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

Tyler Van Elzen, Stark Realty