High school sports quitter to house flipper

[Bridger Hopkins]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $52,900
Cash invested: $55,000
Sale price: $155,000

In my senior year of high school I bought a foreclosed home with my dad. I quit the basketball team and spent the year remodeling the house before I graduated. I stayed at the house with roommates for two years while attending community college in my home town. I then sold the home and paid for college for my wife and I. We were able to graduate with two 4-year degrees with zero debt. That's when I learned how powerful of a tool that real estate could be to build wealth.

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

DAVE RAMSEY (*GASP*)

I learned the value of RE from listing to his lessons. I followed his advice to buy it and make a lot of money when selling it. HOWEVER - in my quest for zero debt we sold it and lost all the potential for rental income and appreciation. From 2020 to 2023 alone it appreciated 3x what I made when I sold it in 2015.

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

We just found the listing online and contacted the listing agent.

How did you finance this deal?

My parents used a HELOC.

How did you add value to the deal?

Total remodel and we finished the unfinished basement.