Fix n flip in Antelope CA

[Gordon Cuffe]

Investment Info:

Single-family residence fix & flip investment in Antelope.

Purchase price: $230,000
Cash invested: $50,000
Sale price: $343,000

This home was boarded up by Sacramento county for code violations. It kept getting broken in by homeless people and they kept bringing all there junk onto the property. I put in new HVAC, new water heater, doors, flooring ,kitchen and bathroom. The market has changed a lot so it has not sold yet and I have had to lower the price. It will sell eventually even if I have to lower the price some more. I subbed out all the work myself. I finally sold the home as of 1/9/2023

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

to make money

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

from a local wholesaler

How did you finance this deal?

hard money loan plus a lot of cash

How did you add value to the deal?

replaced everything. The place was a homeless person's dump

What was the outcome?

I sold it and made money even though the market declined during the listing time period

Lessons learned? Challenges?

Make sure that I dont have any paint on the eves that looked chipped or peeling. The buyers FHA appraiser had me fix the paint
even though it just was painted.

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

I am a agent so I would recommend myself because I have a ton of experience.