Our Very First Flip

[Janette Tarbell]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $232,000
Cash invested: $24,000
Sale price: $320,000

This was our personal home that we bought, rented, then fixed and sold. We bought the property as a foreclosure, rented it for $1800/month for five years, then performed a facelift and sold for $170,000 more than we owed on the property. We have renovated every single property we have ever owned, but this was our first real "for-profit" flip. My family has been in the construction industry for 30 years. We love what we do and we're good at.

How did you finance this deal?

We financed with our own capital.