Farmhouse Flip in Arkansas just outside Fayetteville

[Victor Bannon]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $125,000
Cash invested: $30,000
Sale price: $210,000

Farmhouse Flip with an acre lot . Beautiful upgrades in the farmhouse theme. Excellent return

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

Hungry for a deal in Pandemic year

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

online auction

How did you finance this deal?

Cash

How did you add value to the deal?

Granite counters, refinished original wood floors, took out ugly ceiling replaced with drywall, upgraded bathrooms. Painted outside and inside.

What was the outcome?

Happy buyer

Lessons learned? Challenges?

Try to ask more qualifying questions of your contractor. E.G. "who will be here? When? For how long?" Make it VERY clear what your expectations are PUT IT ALL IN WRITING AND GET BOTH PARTIES TO SIGN IT. Be as specific as you can about what is allowed, not llowed, deadlines, every detail written down. No trash on job site, etc. etc. etc. If you don't do this you may have an entire family kids and all occupying the property all day, every day during work. Ugh!!!

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

Yes, Allen Dietzschold realtor for EXP Fayetteville