Catch and release. This place had a ton of potential
Investment Info:
Single-family residence fix & flip investment in Chapel Hill.
Purchase price: $125,000
Cash invested: $2,000
Sale price: $170,000
Quick catch and release of a property with great potential! We got this when it needed to be cleaned out and the lot cleared. After doing that we decided to list it for a week to see if we could get it sold quickly and move on, rather than going through with the rehab. The new buyers turned out to be friends and they have done a kick *** job! If youre reading this you know who you are!
What made you interested in investing in this type of deal?
Good bones and great area. We were confident it would be a quick deal.
How did you find this deal and how did you negotiate it?
Found it via another agent that was listing it.
How did you finance this deal?
Cash
How did you add value to the deal?
Clearning the lot and cleaning out the house goes a very long way. That was the difference between when we bought it and when we sold it.
What was the outcome?
Quick turnover. Good profit and on to the next. The new owners got a crazy price on a home theyve added a ton of value to.
Lessons learned? Challenges?
Lots of challenges with the septic system that the new owners were aware of and got sorted out.
