Just sold my latest flip project.

[Michael Magno]

Investment Info:

Small multi-family (2-4 units) fix & flip investment.

Purchase price: $117,000
Cash invested: $21,000
Sale price: $196,000

Originally bought this property to keep, but the market is still sizzzzzzzzling. So I decided to list it, and see what happens. Sold in 1 weekend for over asking price.

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

I was originally going to keep the property as a long term buy and hold.

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

Sellers called me to list their property, and I bought it directly.

How did you finance this deal?

I used a private money lender to purchase the project, and funded the holding costs and rehab myself.

How did you add value to the deal?

Painted exterior, added new HVAC including C/A, new exterior decks, new doors,

What was the outcome?

Sold in a weekend!