My First Flip

[Amy Glover Bryant]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $117,000
Cash invested: $25,000
Sale price: $168,000

I used money from a self-directed IRA to buy, update and re-sell this 3 bedroom, 2 bathroom property in the Stifft Station area of Little Rock.

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

Loved the area and was able to affordably update the property and find a buyer quickly.

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

I'm a real estate agent and keep my ear to the ground constantly for properties that will be great for my clients or myself to invest in to either flip or rent.

How did you finance this deal?

CASH

How did you add value to the deal?

New kitchen countertops, refinished floors, new paint throughout, new fixtures, updated exterior.

What was the outcome?

Quick money

Lessons learned? Challenges?

It is important to find vendors who can do quality work quickly and for a low amount of money. It's all about knowing the right folks!

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

Amy Glover Bryant, REALTOR®

[Amy Glover Bryant]

Quote from @Nicholas L.:

@Amy Glover Bryant

nice work.  just curious, what was the net after all expenses and fees?

It was probably $20K, maybe more. It's been a couple of years since I did this flip. I'm a realtor so I saved on those fees on both the purchase and sale AND was using a self-directed IRA so I didn't have to pay capital gains. It was a quick project, so $20K in a couple of months made me happy, happy, happy.