First Fix and Flip

[Leonardo Rodriguez]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $220,000
Cash invested: $60,000
Sale price: $329,000

Single family home flip

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

It was time to stop thinking about it what could be.

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

The property needed too many repairs to sell through conventional financing. I used the BP Fix & Flip feature to run the numbers and they were favorable.

How did you finance this deal?

Seller finance and investor funds for repairs.

What was the outcome?

30k profit

Lessons learned? Challenges?

Leave room in the budget for a contractor.

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

I have been licensed in California so I saved on my fees.