Quick Flip on the South Side of Savannah

[Ivan Shalavuta]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $145,000
Cash invested: $8,700
Sale price: $210,000

The property was purchased for a quick flip with a light cosmetic refresh.

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

The seller of the property found me through my craigslist post about buying homes for cash. He needed to sell it quickly without going through the listing with an agent.

How did you finance this deal?

Private money.

How did you add value to the deal?

Changing the carpet in the bedrooms, painting walls inside, cleaning, and doing landscape.

What was the outcome?

Approximately $51,000 of net profit between me and a private money investor.

Lessons learned? Challenges?

Managing help in the proper order was challenging to finish the project fast.

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

I am a local Realtor.