Success to Failure to Eventually Success

[Conner Andrews]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $295,000
Cash invested: $41,000
Sale price: $440,000

Sold first fix and flip, bought this property located street over. 3 Bed 1.5 Bath and knocked out wall separating one bedroom closet and the half bathroom, added a walk in shower making it a 3 bed 2 bath. Cost to do this was $2,500 including labor and material. During Project randomly fired from job while every cent was in this deal and CC's maxed. Lived off of Saltines and Peanut Butter. Got job for MR. Brown delivering by change from piggy bank to get to job. House done fueled by Saltines

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

My love for business, designing, creating, and living a life of freedom.

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

MLS. REALTOR

How did you finance this deal?

Mortgage Conventional

How did you add value to the deal?

Turned a half bath into a full bath and went above and beyond in design while being budget minded

What was the outcome?

Gave me the mindset that no matter what or against all odds if I just get out of my situational emotions and ask myself what's next and do that thing then I'll eventually get the house renovated completely. Also that house was featured in "The Charlotte Agenda's "Hottest Homes Under 500k." Also profited around $80,000. And one of my neighbors gave me my next deal.

Lessons learned? Challenges?

Jump and build your parachute on the way down. I wouldn't quit my job because i was worried about health insurance but health insurance was the last thing on my mind during that whole process. While it was a tough time, looking back it was the most fulfilling season of my life up to that point.

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

Kristen Pegg with Cottingham Chalk