My 1st fix and flip

[Amy Ryan]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $175,000
Cash invested: $31,000
Sale price: $345,000

My 1st fix and flip

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

I wanted to get into flipping. An agent said he knew a guy that wanted to sell of his investment properties, they were all in extremely poor shape. This was a total gut job, lots of labor, so many surprises but good experience for my very 1st flip.

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

Through a real estate agent family member.

How did you finance this deal?

hard money lender, personal funds

Lessons learned? Challenges?

Much more work and money than initially expected. Learned to plan for the worst.

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

Wouldn't recommend the agent which inspired me to become an agent.