Worst Smell I've Ever Smelt

[Matt Pursley]

Investment Info:

Single-family residence fix & flip investment in Greensboro.

Purchase price: $67,000
Cash invested: $60,000
Sale price: $189,000

Disgusting squatter house flip

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

My agent brought me the deal before it went on market. Gross house - but that neighborhood is very desirable in the mid-low income.

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

Went through my agent to the seller.

How did you finance this deal?

Financed this deal with private money.

How did you add value to the deal?

Complete rehab, new walls, floors, bathrooms, kitchen, HVAC, roof.

What was the outcome?

Slightly over budget by about $5k. Thankfully there was still plenty of room. Sold for 5k over asking price.

Lessons learned? Challenges?

I did no work myself. This was huge. Kept my time free and it was great to just watch the process and manage it well.