Primary Fixer Cheat Code

[Eric Cussimonio]

Investment Info:

Single-family residence hard money loan investment.

Purchase price: $525,000
Cash invested: $100,000

This is a fixer upper to live in as a primary residence & plan is to exit after 2 years to avoid $250k in capital gains tax. ARV at the time of purchase is $900k and appreciating more

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

Numbers and type of property fits where i would like to occupy in the meantime

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

Expired listing. Offered hard money with quick close at huge discount

How did you finance this deal?

Hard money

How did you add value to the deal?

Rehab the property and make livable

What was the outcome?

ARV is $900k and since in highly desired location will continue to appreciate

Lessons learned? Challenges?

Yes went a little over board on rehab since i planned on occupying

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

Yes my hard money lender and i had my broker represent me on the sale for liability