Charlotte Fix and Flip in Washington Heights

[Cindy Bowman]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $200,000

Complete rehab. House was taken down to the studs. Learned a lot from this one.

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

House was in and up and coming neighborhood. Wanted to return it to its former glory.

How did you finance this deal?

Private lender.

How did you add value to the deal?

Husband is licensed GC with over 30 years experience. I am a licensed agent and accredited stager. We completely handled the project from purchase to close.

Lessons learned? Challenges?

Time is of the essence. This project took waaaaay too long. Add in a pandemic, supply chain issues, hubby having 2 back surgeries, father-in-law passing and it was the perfect storm. If we would have gotten on the market even 4 months earlier we would have likely not had an appraisal issue.