A pandemic flip

[Calvin Mathews]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $105,000
Cash invested: $43,000
Sale price: $215,000

Helped a young lady in a tight spot who desperately needed to move. Talked it down from the original $120k purchase to $105k and had the work done in 3.5 weeks, but had to wait almost 2 months for a broken cabinet door.

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

Passion for real estate and seeing my design touches come to life

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

Another agent in the office brought it to me

How did you finance this deal?

Hard money

How did you add value to the deal?

Granite countertops, new windows, and a fresh new look to the neighborhood

What was the outcome?

Sold for above ask within 2 weeks of being on market

Lessons learned? Challenges?

Vet workers better

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

Yes, Avalon Capital for hard money.