Quick Partnership Flip

[Anastasia Gamino]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $98,000
Cash invested: $103,000
Sale price: $233,000

We had a partner on this one. We had 70% equity and they had 30% equity based on the amount of capital put in the deal.
Purchase Price: 98,000
Renovations: 52,000
We made 50,800 and they made 21,000.
Renovation Time: 45 days
Under Contract: 24 hours

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

Loved the location and Building relationships with a partner.

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

Our partner brought the deal to us because he needed capital. I put some past flips on my Facebook page, and he reached out to us!

How did you finance this deal?

HELOC, credit cards, cash

How did you add value to the deal?

We added a privacy fence, made it an open concept, and made the property pop with a wooden beam and open shelves.

What was the outcome?

Sold the house for more than the original ARV of 220,000. We stayed within our renovation budget!.

Lessons learned? Challenges?

Partnerships can be valuable when they bring you deals! Post on social media what you are doing!