2100 Springhill Ave Flip

[Johnny Lynum]

Investment Info:

Small multi-family (2-4 units) fix & flip investment.

Purchase price: $168,000
Cash invested: $40,261
Sale price: $340,000

Duplex flip in Mobile, AL

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

Cold Calling

How did you finance this deal?

Hard Money

How did you add value to the deal?

Renovated the damaged unit and painted throughout both units.

What was the outcome?

Sold for about $15k then my original ARV.

Lessons learned? Challenges?

This project still confirmed that it's hard to comp small multifamily when it comes to appraisals.

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

I leveraged Hornet Capital who lend exclusively to Veterans as my hard money lender.