1st Fix and Flip - Jacksonville Florida

[Sheena Henderson]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $410,000
Cash invested: $165,000

Home was abandoned for over 5 years and just used as storage. Gutted and remodeled the whole home and relisted for $725,000

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

The location is amazing! Beautiful family home that just needed to be brought back to life.

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

Found the home from a friend of a friend. Spoke directly with the owner and found out that he just wanted to find a new owner who could love it like his family did.

How did you finance this deal?

JV'd this property with a team who got a hard money loan. My husband and I (Contractor and Realtor) did the work they brought the financing.

How did you add value to the deal?

I own a local real estate brokerage in the area. My husband is a licensed contractor. Full hands on project.

What was the outcome?

Home is now on the market. Has been under contract 2 times . 1st fell through due to financing and 2nd the property is on just over 1 acre and after consideration that decided they could not handle the up keep of such a large property.

Lessons learned? Challenges?

Always keep an eye on the budget! Also too many opinions can be difficult to work with.