Almost Stuck In Worcester Rehabbing A Cape!!!

[Olivia Grabka]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $140,000
Cash invested: $61,216
Sale price: $275,000

Come see this fantastic classic New England Colonial Style home. Property features 4 large bedrooms, with 1.5 baths. Property is within Indian Lake East neighborhood with ready access to major highways for easy commuting. Home features gleaming hardwood floors, new roof, beautiful molding/trim, with tall ceilings & spacious rooms. The property has been updated with new electrical systems, features a brand new kitchen with modern stainless steel appliances

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

We buy & renovate property as a business, this property was available for sale and we believed we could add value.

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

Property was listed on the MLS.

How did you finance this deal?

We partnered with M3 Innovations, Inc, we paid the down payment, closing costs and they secured the financing.

How did you add value to the deal?

We updated the electrical, the roof and updated the property cosmetically.

What was the outcome?

We broke even.

Lessons learned? Challenges?

1. Hire a professional roofer, we used our team members to replace the roof (they are experienced) but we should have outsourced the job
2. Use a flooring company, our team members were not flooring specialists; it took them 2 weeks to complete what a flooring specialist would have done in a day.