Demo Day is the Best

[Melissa Skilbred]

Investment Info:

Single-family residence fix & flip investment.

Multiple Fix & Flips: in Chesapeake, Portsmouth, and Suffolk

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

It was once an idea and needed to be a reality - Started out with 1, then 3 at a time- it is exciting to see an ugly house become a home of beauty that functions well for how we live today.

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

I am an Agent.

How did you finance this deal?

all CASH -

How did you add value to the deal?

All repairs: gut to the studs or opening up walls, moving a window or door - all repairs completed in 6 weeks or less. And work is completed right, no half *** work - unlike a lot of recent Flip homes I have seen, bad flips will make it harder for everyone - if you need to sub out the work you need to keep an eye on the work and know what you are looking at - use quality contractors and not the cheapest contractor - I promise you it will come back to cost you more on the back end of the deal.

What was the outcome?

Sold all for a profit (1 became a hard sell ..... FHA had to sit on it 3 months before I could sell)

Lessons learned? Challenges?

There are come CARPPY Flippers out there that do terrible work - and makes me ashamed to admit that I flip houses. My name & my reputation are on the line, so do a quality job or don't do it at all. I have gone in for other investors and completed an additional 25K+ on a new flip house - back graded plumbing, exposed wires in attic, ungrounded panel, flooring issues, dishwasher not hooked up, floor registers that have wall registers installed, leaking plumbing, floor joist not installed & more.

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

I am the Agent & Contractor give me a call