First Fix & Flip (and first investment ever)

[Rema Passman]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $134,059
Cash invested: $55,000
Sale price: $243,000

Risky to say the least, this flip was my very first real estate investment. This project is sentimental to me because it made me realize how much I love flipping and all of the other opportunities that must be out there. I was also very happy to turn a profit, given I had no mentor or previous experience to lean on!

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

Online auction

How did you finance this deal?

Private lender

How did you add value to the deal?

Full gut & transformed an enclosed garage to a 4th bedroom (because it was more important in this neighborhood have more bedrooms than have a garage).