My first flip home, looking to do

[Andrea Encalada]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $187,000
Cash invested: $40,000
Sale price: $250,000

3 bed 1 1/2 baths. Knew the condition of the property because some friends rented it for a long period.
We convert the 1/2 bath to a full bathroom and add a room to the house by using the garage space that was already converted but not finish properly to be call bedroom.

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

A friend was renting the property, moving to a different state. I approached the owners to see if they wanted to sell the property. The market was to hot at the moment so I knew if the property hit the market, was going to sell for over asking.

How did you finance this deal?

Real State contract for 6 months paying rent to own. We flip and sold the house in 4 months

How did you add value to the deal?

Add a bathroom and a room

Lessons learned? Challenges?

Don’t over do, you will not use the property.

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

No, because I am a license real state broker. I do recommend working with an agent.