My First REI Property!

[Griffin Wilde Cardew]

Investment Info:

Single-family residence fix & flip investment.

I found the Ugliest house on the block that I'm turning into something beautiful.

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

I'd been living out of a sprinter van I built out for 14 months in an attempt to save up for my first home. REI has been something I've been incredibly interested in and passionate about for the last 5 years and this is my first step towards financial freedom.

I wanted to put a roof (fixed, not mobile!) over my head and use my skillset and network to flip it. I felt this was the best opportunity for me to get into a home, go through and learn the process myself with my own money, then scale.

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

I found it on the MLS. I was able to leverage a motivated seller and dropping market to go in below asking and knock off additional dollars after inspections.

How did you finance this deal?

Traditional. 30-year fixed, used some of the money I negotiated off during inspections to buy my rate down.

How did you add value to the deal?

Sweat equity. Flipping the house myself.

What was the outcome?

TBD!