Virginia Beach Fix and Flip

[Jacob Sloop]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $365,000
Cash invested: $90,000
Sale price: $549,900

Higher end fix and flip

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

GREAT location. One of the most desirable locations in Virginia Beach

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

MLS. We had zero contingencies and I communicated with the listing agent a lot up front.

How did you finance this deal?

Hard money

How did you add value to the deal?

We did a full cosmetic rehab and added a new layout to the kitchen

What was the outcome?

Sold for asking price, market had begun to shift as we were finishing...these houses typically go for a fair amount over asking so a bit of a let down.

Lessons learned? Challenges?

The market controls you, not the other way around...

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

@Remmington Blackburn