Creative way to maximize your investment in a flip, while being hands off

[Andrew Jennings Freerks]

Investment Info:

Single-family residence note investment investment.

Purchase price: $410,000
Cash invested: $60,000

A developer friend approached me with a deal, but he was lacking the cash to purchase it. We brought the cash to make the deal happen negotiating a 25% return and the right to be the exclusive broker on the back end. Also, we had direct knowledge of the area, helping to choose finishes, and layout that would make the home an optimal fix and flip.

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

It was very hands off, but still had a nice return. I believed in the area and the numbers

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

A friend from Bigger Pockets :)

How did you finance this deal?

Savings and investor's cash

How did you add value to the deal?

I knew the area and could tell the developer what type of finishes to use and how to best change the layout of the property to fit the market

What was the outcome?

we will see. The house is currently on the market for sale

Lessons learned? Challenges?

You can find flipping deals on the MLS in NYC!

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

Garreton Smith