The Flip That Started It All

[Kurt Smith]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $167,500
Cash invested: $25,000
Sale price: $265,000

This investment property was my first experience flipping a home. New paint, new tile work, new cabinets and countertops, all made this house shine. It was a great first project and it was where my interest in investment properties began.

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

Flipping houses has always been a passion of mine and this project was my first opportunity.

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

The house was found on realtor.com. It became a bid war for the property, and I won out.

How did you finance this deal?

Private money was used to finance this deal.

How did you add value to the deal?

I added value to this deal by updating all needed areas of the home.

What was the outcome?

I sold this property and turned a profit of $72,500.

Lessons learned? Challenges?

One lesson learned from this experience is to always use a realtor.
A challenge was trying to work on this project while having another full-time job.