Fix & Hold Deal in New York City

[Kobi Nagar]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $180,000
Cash invested: $100,000
Sale price: $499,000

Gut renovation of one family in Jamaica NY, We negotiate the price down since the previous owner had challenges with the tenants. sale was long due to the current market we had to reduce the price by around 10%. but still made money :)

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

Fix & Flip

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

We got this deal from one of our brokers

Lessons learned? Challenges?

we didn't wait and reduce the price to make the sale. We had two deals that didn't close since the borrower was disqualified due to interest rate increase.