Fix and flip of an apartment unit in Valencia Spain.
Financed with 4 private money silence investors in exchange for 70% equity.
Originally an outdated 4 bedrooms, 1 bath apartment converted into a 2 bed 2 bath modern apartment with an open concept layout.
Negotiated for the seller to wait 6 months to get 100% paid off, while we renovated the property, after given them a 30% down payment.

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

The fact that the seller was willing to allow us to proceed with renovations after only gicing them 30% which gave us time to look for private money silence investors to fund the renovations and also gave us time to renovate the property

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

An agent that we have a relationship with (we almost closed on a different deal with her) called us for this one as a pocket listing.

How did you finance this deal?

Private money investors, they had never finance a deal before, so it took more convincing and more reporting as the project advanced, than usual.

How did you add value to the deal?

we turned the property into a modern, open-concept layout property and fully renovated it...including new windows, flooring, added a second bathroom to the new master bedroom. Changed the floorplan so that the living room changed locations facing the exterior busy streets, and the bedrooms facing te inner quiet interior patios, which here in Spain we call ¨patio de luces¨.

What was the outcome?

I was renovated in 3 months and it sold on the 4th month, on the first showing. it all worked out well.

Lessons learned? Challenges?

This was the first project were we got scammed by an online retailer. We purchased the oven and other appliances from them and they never delivered and they closed down the website. So after this project, we have gone back to sticking to our usual appliances store, although their prices may be a bit higher than some online retailers.

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

One the agents we worked with was great, I would be glad to pass out his contact info to anyone looking for pocket listings in Valencia Spain.