Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 2 years ago,

User Stats

28
Posts
13
Votes
Dw Chalmers
  • Investor
  • Memphis
13
Votes |
28
Posts

Memphis TN FIX AND FLIP DEAL BREAK DOWN

Dw Chalmers
  • Investor
  • Memphis
Posted

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $52,000
Cash invested: $17,000
Sale price: $117,085

This property is located in a great rental pocket near the University of Memphis TN we purchase this house for $52,000 needed a full cosmetic remodel and land scaping job we did a 50/50 joint venture deal with an investor who brought in 100% of the financing and we was able to fix and flip this property and get it back on market in a 90 day turn around for a $27,000 Net profit great we are in need of more personal private money and hard money resources who would lend on a first or second positio

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

This deal came from a referral FSBO sign in front of the yard and just from running the comps and condition the property was a deal we just now are in search of private and hard money to keep our deals in house

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

fsbo referral just called the owner up made the offer a week later we were under contract

How did you finance this deal?

joint venture fix & flip

How did you add value to the deal?

underwrote the deal and got it under contract

What was the outcome?

$27,000 dollar net profit

Lessons learned? Challenges?

consistency and never stop outsourcing financing because we are getting cluttered with deals that we are having to wholesale