North East Portland Flip

[Todd Kono]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $270,000
Cash invested: $50,000
Sale price: $440,000

Purchased SFD from Wholesaler at $270,000, Used hard money rehab loan. Netted $65,000.

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

Goal was to flip to make quicker cash than long term hold.

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

Through a Wholesaler

How did you finance this deal?

Hard money rehab

How did you add value to the deal?

This was an old Portland style home so I used finishes that were reminiscent of that time

What was the outcome?

It was great. Great flip and great timing

Lessons learned? Challenges?

I actually posted an ad as there was a lot of stuff in the house. Everything for free. I got rid of about $2,500 worth of trash out cost but then some one can in that night and took all the appliances ...lol
Wont do that again or get an alarm.