Client Success Story: First Flip

[Ryan McLaughlin]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $67,000
Cash invested: $71,000
Sale price: $184,000

I had the pleasure of representing Doug on the purchase and the sale of his first flip in SW Philly and I couldn’t be more excited for all of his success here. Doug came to me fresh off of months of studying and saving and was ready to make his foray into real estate. It wasn't long before we found a great opportunity and Doug went to work.

How did you finance this deal?

Hard money.

What was the outcome?

I tell all my clients that you may lose or break even on your first deal, especially with little to no experience but Doug came out in the black and learned a TON along the way.

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

I was happy to help Doug on the purchase and sale at Reedland. Having a Realtor in your corner who understands the market, how to finance a project, the rehab process itself and how to estimate rehab costs is paramount to your success. I'm happy to have helped Doug along the way and I'd love to do the same for others in the BP community.