Creative Flip and Hold

[Robert Buffington]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $420,000
Cash invested: $100,000

I purchased a group of homes in 2020 and I only really wanted two of the 9 that I purchased. I paid 420k for all 9 and then I did minor repairs on the 7 and sold them to close out my 420k loan allowing me to keep the best of the 9th free and clear. I've used the strategy of buying some dogs with an ace or two for the last 15 years and it's work wonderfully for myself and my investor clients.

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

9 houses that were distressed and being mismanaged.

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

Networking with another broker.

How did you finance this deal?

Commercial lending

How did you add value to the deal?

Minor repairs and raise rents

What was the outcome?

Selling 7 for the price I paid for 9 which gave me two houses for free.

Lessons learned? Challenges?

look at all possible options and don't pass anything up just because its not in your target area or niche.

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

Myself