First fix and flip project

[Jessica Stappas]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $220,000
Cash invested: $75,000

Currently listed for $399,900. 4 bedroom 2 full baths 2250 sq ft of living space. Completely updated including new roof/gutters, exterior and interior paint, new doors (exterior and interior), trim, new kitchen, updated bathrooms, new LVP and carpeting throughout, and finished basement

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

This was purchased through a wholesaler.

How did you finance this deal?

Private investor for purchase price, own cash for rehab

What was the outcome?

House is currently listed. No offers yet

Lessons learned? Challenges?

Since we live in Wisconsin, I learned to try and purchase a flip house earlier in the year so when it's listed, it won't be out of the busy buying season. Haven't received too much interest and there is a decent amount of competition in the area. My husband also did a lot of the work. We have learned to hire out a lot of the work as it is faster and also saves us a lot of headaches.