First fix and flip

[Cody Stice]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $120,000
Cash invested: $10,000
Sale price: $190,000

This was my first property I had purchased. I used the house-hack method to reduce my expenses so I could buy materials to renovate with and did all the work myself.

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

My brother gave me the idea

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

I used the MLS and had to offer full price same day to insure no competing offers

How did you finance this deal?

3% down conventional

How did you add value to the deal?

Updating the property with newer cabinets, flooring, paint, and appliances

What was the outcome?

I learned a lot about the renovation process!

Lessons learned? Challenges?

There are some things you should hire out and not do yourself. Having to install a pre hung front door is not as much fun as it seems!