Flip in Brick NJ

[Jasmin Elalfy]

Investment Info:

Single-family residence fix & flip investment in Brick.

Purchase price: $250,000
Cash invested: $75,000
Sale price: $425,000

I bought this property from a wholesaler off market and we renovated it and sold it to another investor who ended up using it as a rental property. The property was full of stuff, it was a hoarder house, but we were able to power through and do a complete floor plan change, relocate the kitchen to make it one big open space with a huge island & it came out beautiful! Virtual staging makes a huge difference.

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

I like middle market ranches like this, they're great rentals or starter homes, they tend to sell quickly.

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

We Like finding deals ourselves but obviously that is not always the case because it is very hard to come across good off market deals. Do not mind paying wholesalers fees and a wholesaler that we know and trust and have bought properties from in the past was having trouble offloading this property but we saw the potential and opening up the kitchen & adding a bath and ended up working out greatly!

How did you finance this deal?

Hard Money

How did you add value to the deal?

Adding bath & opening up kitchen. Full reno.