Fix n Flip #28

[Micah Hughes]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $86,000
Cash invested: $50,000

Just had it professionally cleaned and staged. Going to list it Thursday

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

Wholesaler couldn’t find a buyer and neither could I bc it was such a nightmare but I took it on to prove to myself that I could take it on and it worked out great. 2.5 months with permits etc.

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

Wholesaler

How did you finance this deal?

Hard money lender

How did you add value to the deal?

Found it, put $50K cash into it. I’ll also list it. Hoping to get roughly $60K profit

What was the outcome?

$60K profit likely

Lessons learned? Challenges?

Electrical company has to add meter and connect wire from the pole to the meter

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

I'm an agent. Worked with HML lender. Lender invested $150K and I did $50K. He'll get $10K in profit. I'll get $60K. I love use OPM.