Live in flip turned gold mine!

[Iani Perez]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $405,000
Cash invested: $55,000
Sale price: $735,000

Purchased as a forever home and designed it to that effect. Dream home. But God and the Covid market had other plans. We sold it in under 2 years as our now second live in flip and cashed in. This has officially started our real estate journey. Tune in! ...oh and God is good!

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

We moved to Florida to get into real estate and fix and flip homes. We didn't think our dream home was going to get caught up in and ultimately be the first in the plan. Oh well lol.

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

We bought it at the start of the uprise in home prices unbeknownst to us, what would become the Covid boom in home prices. Opportunity came in before the craze. Right time right place.

How did you finance this deal?

Conventional loan and $40k down.

How did you add value to the deal?

We completely remodeled the entire first floor and bathrooms with a custom farmhouse modern style. Pinterest worthy renos done by yours truly. Opened up the floor plan as well.

What was the outcome?

Because a statement piece for the neighborhood. The renovation is still one of the best in the neighborhood aesthetically speaking.

Lessons learned? Challenges?

Take advantage of opportunity. Also, we could have saved time and hired out to do the work that I did alone which took longer while, figuratively speaking, breaking my back. Oh and better photos before and during.

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

I'm a realtor. I recommend myself and my team. Aponte Group at Compass Orlando.