First major flip

[Jason Evans]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $452,000
Cash invested: $452,000
Sale price: $542,000

Major upgrades; Replaced kitchen cabinets and counter tops, upgraded master bath, upgraded bath to stand up shower, upgraded vanities, updated lighting, and installed carpet.

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

The purchase price to the state of the home.

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

Wholesale opportunity

How did you finance this deal?

Half hard money, half private investor

How did you add value to the deal?

Upgraded most of the home.

What was the outcome?

Sold at a profit

Lessons learned? Challenges?

Market turning was the biggest lesson learned. That and have a professional plumber touch any and all plumbing work.

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

Ryan Kelley with Coldwell Bankers