I don't always flip houses, but when I do, I flip nasty ones!

[Emanuel Blando]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $70,000
Cash invested: $50,000
Sale price: $185,000

This was an interesting hoarder house. The man who lived there was 'off grid'. So he got all his water from the rain. There were big water containers on the gutters where he got all his water for the home. City water was not turned on at the house! After several dumpsters and some plumbing repairs, it was a pretty straightforward full gutt flip! We also add a full bathroom!

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

Decent margin and had financing in place.

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

Got it from a friend who had picked it up after it fell out of contract several times on the market.

How did you finance this deal?

Cash and hard money.

How did you add value to the deal?

Full on reno and bathroom addition.

What was the outcome?

$$$

Lessons learned? Challenges?

Clear communication with contractors is key!

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

I was the Realtor on the sale. The purchase was off market.