Another CASH COW $

[Pete Galyon]

Investment Info:

Single-family residence fix & flip investment in Chattanooga.

Purchase price: $210,000
Cash invested: $40,000
Sale price: $360,000

BRRR
I do two or three of these type flips per year. Have a proven strategy to find good value adds. Chattanooga and Knoxville are always named top places to do a BRRR in the US and last week Chattanooga was named the best place to retire in the entire US! Great opportunities here and blessed to be in this business.

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

I saw the scope of work was simple and straightforward. Time to acquire and reno was short. Rent in this area was very high as well and when I sold the property I also cleared 90k on top of my cash out ( 123k only 4 months in ).

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

Coming soon on MLS> called agent and said Id give ask price, no inspection( Inspector was with me during walk through ;)

How did you finance this deal?

Conv 20%

How did you add value to the deal?

The home was a 1950s beauty that had never been remodeled. Check out the pics. I did ALL the trendy and inexpensive things to make it standout

What was the outcome?

Happy Camper

125k profit over 1 year including $300 month rent

Lessons learned? Challenges?

All went well. Had to replace AC. set me back 9k unexpected

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

Me. Im an agent