1950s Ranch flip in Durham

[Zac Hales]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $272,500
Cash invested: $70,000
Sale price: $430,000

This 1950s ranch had a killer lot that was super deep and offered a ton of privacy. It has some very cool hex tiles in the bathroom that were original and we sought to keep as much of that in tact as we could. The inside was completely redone while leaving some of the great historical features like the hex tile and a corner tub in place.

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

The location and the lot

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

Found it on MLS, but we waited for it to sit for quite a while.

How did you finance this deal?

LOC

How did you add value to the deal?

Floors, paint, new kitchen, landscaping in the back yard and front yard, parking pad

What was the outcome?

Solid profit. We had issues with covid that caused us to sit on it longer than anticipated but it didnt ultimately impact the sale negatively

Lessons learned? Challenges?

Zoning and non conforming lots. We looked into an addition in the beginning as an option and wanted to make sure we could do it if necessary.