Purchase price matters!

[Lindsey Victorson]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $30,000
Cash invested: $55,000
Sale price: $185,000

You've heard the experts say, it is all in the buy, well this property was a great example of that. We met the executor of the estate in front of the house on a hot Texas day, he was fed up with the property (mowing the grass in the heat) said his bottom dollar and we had a contract executed that evening!

How did you finance this deal?

Private money and hard money

How did you add value to the deal?

Full renovation

What was the outcome?

over $90k in profit

Lessons learned? Challenges?

This house is the base model for our Fix N Flip buys, yes they won't all have this spread but it is a good example of buying them right!

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

Jet Lending was our hard money lender, easy to work with and smooth draw request process.

Melanie Watson, great real estate agent in the Tyler, TX area. Highly recommend her! She did a great job marketing this house and had is sold within two weeks on the MLS.