Fix and Flip near the lake

[Derrick Marlow]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $205,000
Cash invested: $25,000
Sale price: $303,900

Beautifully Renovated 3 bedroom 2 bath home located in the Chesterfield Area! Gorgeous Kitchen with Brand New
Refrigerator, Stove, and Dishwasher opens to nice size Living Room Area. New flooring and Carpets throughout the home.
Bathroom has been Renovated and updated with Amazing fixtures and Large Mirror over the new sink. Home has been
Freshly painted inside. Nice size backyard and home is conveniently located to Shopping.

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

The numbers worked.

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

Found this from a wholesaler. Formula of 70% of ARV less repairs.

How did you finance this deal?

Private funds

How did you add value to the deal?

Carpet, Paint, deck and appliances

What was the outcome?

Bought and Sold

Lessons learned? Challenges?

The only lesson learned is allowing the seller to rent back for 2 months. This hurt my ability to sell it within 6 months.

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

I am my own Realtor/Broker