1033 Milam Flip

[Ian Porter]

Investment Info:

Single-family residence fix & flip investment in Clarkston.

Purchase price: $265,000
Cash invested: $185,000
Sale price: $501,400

I really fell in love with the character of this 1948 home in Clarkston, Ga. I was the third flipper to buy it and attempt to complete the massive project. We didn't make money on this deal since the market took a massive turn with the FED raising rates 3 times during our ownership (rates doubled in 4 months). Still super proud of the finished product as we completely reconstructed the first floor, finished the basement and added square footage.

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

The home had so much charm even through it's disgusting current state. I wanted to bring it back to its former glory.

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

I found through a wholesaler

How did you finance this deal?

Hard money and a HELOC

How did you add value to the deal?

Complete remodel and finishing basement