New Construction Flip In Albuquerque NM

[John Myers]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $173,500
Cash invested: $173,500
Sale price: $215,000

I bought this new construction home from a builder that was finished in this subdivision. The home was under contract with a retail buyer and the deal fell through. One of the builder's sales reps called me and asked me to make an offer on the house. I made a crazy low offer and they accetpted the offer. I paid cash and had to pay cash for the house.
I closed on the house, placed a sign in the yard and closed on the sale a few months later. Made a great profit for doing almost nothing.

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

It was easy money, kind of like legalized stealing!!

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

The builder's sales rep called me and asked me to make an offer. I made a low offer but agreed to pay cash and close in one week!

How did you finance this deal?

Paid cash

How did you add value to the deal?

I literally did nothing to the house except place a for sale sign in the front yard. Oh and I had to enter it into the MLS

What was the outcome?

Made a very nice profit.