Lake Arrowhead Cabin

[Melissa Barnes]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $187,000
Cash invested: $110,000
Sale price: $465,000

Fixed and Flipped an old government cabin in Lake Arrowhead. Top to bottom renovation.

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

The numbers pencilled out and it was a unique property in an amazing location.

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

Found it on Redfin. Won the bidding war.

How did you finance this deal?

Personal loan.

How did you add value to the deal?

Top to bottom renovation. New electrical, plumbing, kitchen, bath added additional bath downstairs.

What was the outcome?

Bidding war with 7 offers.

Lessons learned? Challenges?

This was a bigger job than I anticipated. Always add 15% to your estimate.

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

Monica Mnich - (760) 207-1537. She is investor savvy.