Successful flip Project

[Jose Bernard]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $147,000
Cash invested: $24,000
Sale price: $260,000

single Family flip financed with 0 of my own money.

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

It was a good neighborhood, and it had a great lay out as a 3 bed 1.5 bath for someone's first home.

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

The property was acquired off market through a wholesaler who I had done several deals with in the past.

How did you finance this deal?

It was purchased cash; two separate business lines of credit were used to finance the purchased and rehab cost without having to use my own money. Total holding cost was roughly 8k (between the lines of credit interest, utilities and taxes while holding the property), and total selling cost was roughly 18k.

How did you add value to the deal?

This is a cosmetic rehab. New flooring, new paint, new appliances, and some upgrades to the exterior porch and rear deck.

What was the outcome?

Profit was roughly 60k on this flip project.