Investment property Fix and Flip Single Family Home

[Michelle Bordeau]

Investment Info:

Single-family residence fix & flip investment in Mishawaka.

Purchase price: $45,000
Cash invested: $60,000
Sale price: $149,000

Purchase and remodeled a single family home- Mostly interior but minor exterior work was done.

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

I'm a property manager however, I have helped with many flips so I decided to do one for myself.

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

It was through the MLS.

How did you finance this deal?

Cash

How did you add value to the deal?

Paint, new luxury vinyl plank, added new windows, new stainless steal appliances, refinished the front porch with drywall ceiling and walls, new flooring. Added an ac unit, new roof- complete tear off, new water heater, painted the exterior and fixed the fascia and soffit.

What was the outcome?

Great! Market started to slow when we put in on the market but still sold for the price that we wanted.

Lessons learned? Challenges?

Finding a contractor that works solely on your property is difficult. Next one that I am working on, I have a contractor that is working on my house and only my house to get faster flip and sale.

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

Since I am a real estate agent, I did the listing myself. The buyers worked with Hallmark Mortgage which I would highly recommend.