First fix and flip - first of many! updating our projects.

[Lincoln Alexander]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $60,000
Cash invested: $20,000
Sale price: $120,000

First project in Cleveland Ohio that our business flipped. By this point we owned several long-term rental properties.

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

We had several rental properties, every time we 'turned a rental' the costs seemed absurd for the work being done so we decided to flip a home with our in-house team. Then once lead abatement was pushed hard in Ohio, we began to liquidate our rentals while flipping homes along the way. Now have evolved into a renovation company 'for hire' along with doing additions to properties in need of an extra 500 - 1k sq ft, extra bedroom, bathroom etc. while doing our projects along the way.

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

MLS

How did you finance this deal?

hard money

How did you add value to the deal?

full renovation, added bathroom upstairs

What was the outcome?

profits

Lessons learned? Challenges?

endless list here.

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

yes