Beautiful Lipstick Flip Oportunity in St. Augustine, FL 32092

[Sammy Janvier]

Investment Info:

Single-family residence wholesale investment.

Purchase price: $490,000
Cash invested: $5,000
Sale price: $520,000

Beautiful SFH built in 2018
4 Bedrooms 2 Bathrooms
Living area 2714 sqft
Lot 10018 sqft
Luxury living community with HOA that allows short term rentals like AirBnB
only needed a lipstick flip

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

The owner wanted to dispose of it asap without cleaning and listing it. And we were happy to help provide an easy and fast service.

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

We found this property through divorce records.

How did you finance this deal?

We did not . We assigned the deal.

How did you add value to the deal?

The family had reached out to a realtor. Said realtor didn't think she could even help the family with the time constraints she was given. The family did not have to deal with the inside of the house and have it cleaned out. (The tenants were hoarding) They didn't have to repair anything or stage it to list.
In short we saved them a lot of time and money and worked it out so the realtor still got her 3% fee.
Everyone walked away happy.

What was the outcome?

A local flipper picked up the house. He decided to do a high end flip on it and not just get it ready for the rental market. He is almost done with his renovations and is expecting to put the property on the market in 2 or 3 weeks for about $625K

Lessons learned? Challenges?

It was different having a realtor involved in a wholesale deal. And we learned how to handle that and deal with the Nefar contract instead of our own.