Country home fix and flip

[Corey Stibbe]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $135,000
Cash invested: $560

Purchased off market, a gentlemen passed away while building his dream home in 2019, he got the shell up with a roof, I purchased as is along with 40 acres and pole shed, I am updating and finishing currently at 95% complete, looking to list in late January pictures are before and after

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

Low cash investment, high margin

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

A realtor friend of mine put me on to it

How did you finance this deal?

A personal construction loan covered the purchase price and $170k in improvements, equivalents in the area are selling just one of $400k

How did you add value to the deal?

Fix and flip along with land improvements

What was the outcome?

We will see in a few months

Lessons learned? Challenges?

It is my biggest flip, lots of lessons s learned, luckily none that broke the bank

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

Myself