Quick turn around flip with Large upside :) Finally an easy one!

[Jim Canull]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $380,000
Cash invested: $30,000
Sale price: $525,000

This was the ideal flip everyone asks for, although the purchase price was higher than my norm. It really just needed a refresh of paint, lighting and hardware. It was during a hot market, and I was able to scoop it up because the owners started too high and didn't do any repairs or remodeling. Even if they simply staged it they could have sold for a handful more. But they didn't want to and I was willing to take the risk and it paid off nicely.

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

The popular location and hot market, paired with the minimal amount needed

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

A friend asked for my opinion on what to do. I let them know, but the owner didn't want to put $$ into it.

How did you finance this deal?

private lender

How did you add value to the deal?

mostly aesthetic choices

What was the outcome?

A quick sale with multiple offers

Lessons learned? Challenges?

Keep your ears open for new deals and always offer free advice.

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

JJ Canull I was the only agent involved on both sides:)