Almost $100k Flip in Toms River NJ

[Jasmin Elalfy]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $185,000
Cash invested: $55,000
Sale price: $350,000

This was probably one of my most profitable flips to date, I found the listing on the regular MLS it had no photos and I decided to go ahead and see it when I went to go see it the property had no offers and I was able to negotiate a less than asking offer and this was in the height of COVID when everything was going super over asking.

How did you finance this deal?

Hard Money

How did you add value to the deal?

Added a bath, did full reno.

Lessons learned? Challenges?

Be careful who you use as a contractor I had to fire my first contractor however I'm very thankful that I recognized when to fire the first contractor I did not give him much time after he passed his due date, and the flip still worked out with a 5 month time frame from purchase to sale date!