Panicked Flipper is a Buyer Special

[Victor Herman]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $55,000
Cash invested: $11,000

This 3 bedroom 1 bath single family home at the very onset of the pandemic. Everyone was scared. The perfect opportunity for me. Rents for $900 a month immediately. Cash flow of 350 a month. The seller had just put new floors bathroom in the home. I invested $600 in painting the kitchen cabinets.

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

The perfect timing for me and the seller needed out.

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

Found on MLS and picked up the listing agent.

How did you finance this deal?

FHA

How did you add value to the deal?

Finished the kitchen and a few other blemishes and found a great tenant still in unit.

What was the outcome?

still rented to happy tenants.

Lessons learned? Challenges?

The location is not great but it is turning around

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

When you find the deal, get the deal.