Clay Investment Property!

[Reece Sapien]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $135,000
Cash invested: $40,000
Sale price: $235,000

This deal took about 3x as long as it should have, lots of learning and luckily the property sold 20k ovef what we initially thought it would so we still came out on top.

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

This deal was sent to me by a wholesaler. My partner and I knew the zipcode well and he knew we could do well.

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

WHolesaler sent it to us at 125,000 and said "first come first serve" so we offered 125,000 within 3 minutes of it being sent out. They came back saying that they recieved 135,000 so we matched and got it locked up.

How did you finance this deal?

Hard money via a local lender.

How did you add value to the deal?

we added a bedroom to the back part of the home and completely renovated anything else.

What was the outcome?

We made $40,000!

Lessons learned? Challenges?

Look at plumbing. We were listed and having showings then the pipes busted and flooded the whole home. Luckily we recovered 90% of the materials.