Kula, Maui House Flip

[David Bruce]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $800,000
Cash invested: $1,300,000
Sale price: $1,600,000

Big Reno Flip in Maui during Covid.

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

Money :)

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

through investor agent friend.

How did you finance this deal?

commercial lender Anchor Loans. 100% purchase 85% rehab. Not easy to work with on the draw process....slow, very slow. but got it done.

How did you add value to the deal?

Big Renovation. Big land clearing to open ocean view. 60k in clearing. New Deck and new everything

What was the outcome?

300,000

Lessons learned? Challenges?

first remote flip had its challenges keeping on point and schedule. Went way over budget working with a commercial builder didn't really know the residential costs to renovate.