First Fix and Flip

[Christopher Wilson]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $90,000
Cash invested: $46,000
Sale price: $175,000

My Wife and I were going to buy this as rental, only deciding on the day we closed to put more money into fixing up the property and flipping it due to the market still being so 🔥

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

The low cost at the time and interest rate of 2.9%

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

We found this deal on the MLS

How did you finance this deal?

We went through the local credit union

How did you add value to the deal?

I did most of the work myself to save on labor cost

What was the outcome?

We still made a good profit, but I kinda wish I would have stayed with original plan to fix and hold.

Lessons learned? Challenges?

Although I know how to do most of the work, having a full time job I couldn't be there working on the property as much as I wanted so it took longer to get the job done.i should have just hired it all out and been done sooner.

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

I am a real estate agent myself but this was listed with one of our other agents in the office