3417 Ashland - East Knoxville Flip

[Cory King]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $91,000
Cash invested: $45,000
Sale price: $185,000

Bought through our network. Seller was lookng to relocate to a new area and wanted a quick as is sale. We made major updates to the property including new roof, new kitchen and bathrooms, while also resurfacing hardwood floors, painting and upgrading all fixtures.

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

solid upside even with some considerable work needed

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

connected through our network. Seller wanted a quick cash close.

How did you finance this deal?

private money financing.

How did you add value to the deal?

full remodel on the kitchen and bathroom. new roof. resurfaced hardwood floors, paint and new fixtures throughout. Cleaned up the fencing and added a double gate off the alley access. Yard was massive and worth highlighting

What was the outcome?

set a new price per sqft record for the neighborhood.

Lessons learned? Challenges?

Over improved on a few areas including new interior doors. With such an older home trying to update those is very tricky because very rarely are things perfectly square. should have just painted over original doors and changed the hardware. a cost that didn't need to be spent ultimately as it wasn't a big difference maker.

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

self represented as agents