Most recent flip in Surprise, AZ

[Brett Tvenge]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $305,000
Cash invested: $13,000
Sale price: $379,900

305k purchase price
4k closing cost
4k holding cost
13k remodel
13k closing cost on sale

380-339k = 41k profit

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

This is what we do...

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

Wholesaler

How did you finance this deal?

10% down, HML

How did you add value to the deal?

Spruced it up, new carpet, new interior paint, new countertops, painted cabinets

What was the outcome?

Made some money

Lessons learned? Challenges?

0

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

I'm the agent on the sell... used are normal wholesaler, contractor, and HML

[Bob Willis]

Quote from @Kevin Branin:

Quote from @Brett Tvenge:

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $305,000
Cash invested: $13,000
Sale price: $379,900

305k purchase price
4k closing cost
4k holding cost
13k remodel
13k closing cost on sale

380-339k = 41k profit

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

This is what we do...

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

Wholesaler

How did you finance this deal?

10% down, HML

How did you add value to the deal?

Spruced it up, new carpet, new interior paint, new countertops, painted cabinets

What was the outcome?

Made some money

Lessons learned? Challenges?

0

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

I'm the agent on the sell... used are normal wholesaler, contractor, and HML

If you had a 10% HML, that's 30.5k down of your own cash. Plus the CC make it 34.5k. Add in holding and reno, that's 51.5k cash out of pocket. Where did you come up with 13k?

@Kevin Branin I think you are mixing some things up with the numbers. The $30.5 k down is included in the purchase price. The $13k you reference I believe is what they spent on the rehab. The holding costs are $4k, probably to the HML. Which means they held this property and flipped it in a short amount of time (I believe).