Casa De Fuego

[Jeremy Ellis]

Investment Info:

Single-family residence fix & flip investment in Temple.

Purchase price: $149,000
Cash invested: $160,000
Sale price: $320,000

This project follows our journey in restoring a house we bought for $149,000. Unfortunately, it caught fire just 10 days after we closed the deal. We faced challenges with city permits, inspections, and learning how to rebuild after fire damage. We overcame setbacks and gained valuable knowledge in construction and fire safety. After months of hard work, the project was completed, showcasing our determination and passion for revitalizing homes.

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

It was originally a 90 day fix and flip before the fire.

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

Was on MLS but the tenants had the home in a mess.

How did you finance this deal?

Local commercial lender

How did you add value to the deal?

full rehab, from the ground up.

What was the outcome?

Never had to list on MLS. We used our network and had it under contract during the rehab.

Lessons learned? Challenges?

We learned a lot of valuable lessons. The process was essentially the same as new construction. I've guided many clients on the purchase of newly constructed homes. Getting to experience it from the construction side was a priceless.

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

If you're an investor looking in Bell or Coryell county. I'd be thrilled to assist you in your investment journey!