Bristol, CT Fix and Flip

[Ceasar Rosas]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $123,500
Cash invested: $90,000
Sale price: $275,000

Single family that we bought as a 3 bedroom/1 bathroom and turned into a 4 bedroom/2 bathroom.

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

We like flips. This one had potential to add a 4th bedroom and 2nd bathroom and we wanted to test the area.

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

Hubzu.com. An online auction.

How did you finance this deal?

Hard money loan

How did you add value to the deal?

We redid all of the interior and added a bathroom and laundry room. We also finished the attic off to add a bedroom.

What was the outcome?

We sold it for almost asking.

Lessons learned? Challenges?

Contractors. Our main contractor is reliable, but his team was not. He fired his whole crew in the middle of this house which caused us delays. He finished it with one other person, but was a lot of work. My take - have a few contractors lined up.

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

Yes. Joe Rizza at Vylla Homes.