Rental project that turned into a flip
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $65,000
Cash invested: $150,000
Sale price: $235,000
Single family flip that was originally bought to be a rental. Upon buying it, covid hit and jacked the prices up. Due to the opportunity, we decided to flip it instead and turn a bigger profit
What made you interested in investing in this type of deal?
Looking for more rental properties in the areas we like being.
How did you find this deal and how did you negotiate it?
Hit the MLS and put an offer in
How did you finance this deal?
Hard money
How did you add value to the deal?
Complete renovation top to bottom
What was the outcome?
Great flip that made us great money
Lessons learned? Challenges?
Be careful in the basement. Entire back wall was unsupported and we had to dig it out ourselves to keep the cost down.
