Fix + Flip + Subdivide

[Matt Marcus]

Investment Info:

Small multi-family (2-4 units) fix & flip investment.

Purchase price: $450,000
Sale price: $775,000

Reno + Split / Subdivided the lot and Sold the parcel as one for STR Investor. Used Gap Funding, Hard Money to fund the deal.

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

Doing a project without partners and having all the pieces needed to make it work on my own with my own crew, funding and knowing the area very well to feel comfortable taking the risk.

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

Through some connections with some wholesaler's. I got it an additional 50k off from what they were advertising since I could close within a week, all cash.

How did you finance this deal?

Gap funding, and hard money.

How did you add value to the deal?

Renovated one property and the subdivided/ survey and prep the second parcel to make a second buildable pad.

What was the outcome?

Sold!

Lessons learned? Challenges?

Doing everything although rewarding took away from other parts of my business but i felt like it was a necessary task to learn really the price points for material and labor.

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

I am an Agent so i listed it myself and then reduced Exit costs by 3%.