Single Family Fix N Flip 2022

[Ryan Klamer]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $175,000
Cash invested: $20,000
Sale price: $275,000

This was a buy and hold for a little over 2 years. This property was a great investment and allowed us to make an even better investment.

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

This was a home big enough to fit my family of 6 and we held on to it long enough to avoid the capital gains tax.

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

We found this deal in 2020 and negotiated the price down to $175,000.

How did you finance this deal?

3.5% down FHA loan at 2.5% interest

How did you add value to the deal?

Mostly the property appreciated it because of the strong demand in the housing market. It is likely most deals acquired from this point on are going to continue appreciating.

What was the outcome?

Wonderful netted almost 100k

Lessons learned? Challenges?

The main thing I learned with this was you have to price your home correctly. Homeowners always think there home is worth more than the market does and sometimes it bites you. This house sat on the market for 31 days and took another 35 to close.
If I would have been smart enough to lower the price we would have probably gotten off the market much faster and most likely for the same price if not more.