SFH Fix and Flip

[Zane Cress]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $123,000
Cash invested: $30,000
Sale price: $225,000

This didn't start as a house hack fix and flip, but with the Covid run up on single family homes it became that. This was my first SFH me and my wife purchased right before we got married. Full repaint, garage organization, full kitchen remodel, back yard clearing, wall opening, roof repair, running new electrical lines. I did a lot of first time projects in this house and it made us a lot of money on the sale. Really happy and proud of this project. Gave me a ton of confidence in my skills.

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

First time home purchase and project house.

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

Agent showed it to us while we were house hunting.

How did you finance this deal?

Conventional 5% down.

How did you add value to the deal?

Full kitchen gut and remodel, landscaping, painting, roof work, layout adjustments, floors. So much was done to this place to update it from the 1960s that were still lingering in it.

What was the outcome?

Sold for a great tax free profit that helped us acquire our new home.

Lessons learned? Challenges?

Biggest lesson was how cheaply people will run PVC into old cast iron piping.