High St investment

[Brianna Turner]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $48,800
Cash invested: $12,000
Sale price: $88,000

Couldn’t have asked for a better first investment opportunity!

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

The location was very convenient, I knew the area and comps very well.

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

I had access to a list of properties that weren’t primarily owned and I drove around to those addresses, made notes of the exterior. For this particular property I found the owner on Facebook and he granted me access to go inside and we made a deal happen! He was not sure what to do about it, had bad tenants, and he was ready to move out of state.

How did you finance this deal?

He had an equity line of credit on the house, we went under contract for a land contract, I paid all closing costs to start with a deadline of 4 months to rehab and sell the home, paying off the equity line of credit.

How did you add value to the deal?

Trash removal, brand new furnace with warranty, all new flooring, cleaned up the exterior & fixed the porch roof.

What was the outcome?

I represented the buyer on the sale, saving commission altogether, went under contract over asking to accommodate closing costs but appraisal came in a few thousand short. It all worked out!

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

I am a licensed agent and love recommending my local lenders at First Financial Bank. They’re efficient, communicate well with all parties involved and can even close sooner than expected!