Fix and Flip with Foundation Repair

[Sheila Smith Oliver]

Investment Info:

Single-family residence fix & flip investment in Seguin.

Purchase price: $299,900
Cash invested: $46,000
Sale price: $410,000

Fix and Flip with foundation work. Would have had a much a higher return but chose the wrong flooring installer that vanished when the job was done wrong. Lesson learned! Still came out with 39% cash on cash return.

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

Foundation work was reasonable

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

New Western

How did you finance this deal?

Hard Money

How did you add value to the deal?

Foundation repair, new floors, paint, all repairs needed, and cleaned up ADU

What was the outcome?

39% cash on cash return

Lessons learned? Challenges?

Extension needed for FHA Buyer re: flip 90 day hold. Spent an additional $12k that was unnecessary after choosing the wrong floor guy.

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

Yes