Latest Single Home Flip

[Shawn Parsh]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $65,000
Cash invested: $25,000

We are at the tail end of our most recent house flip in Tennessee. Currently, we have about 25,000 into repair cost but still need to install the countertop, carpet, and do some landscaping. This property is a 2Bed/1Bath located five miles from Damascus, VA. I will provide more details within the next couple weeks.

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

This house was cosmetically distressed. It had a dead bird in the living room, and dog poop in one of the bedrooms. The yard was full of trash and was overgrown. For most buyers they would walk in the house and turn around and head back out. I love this kind of property because their is very little competition which means I get it for a better price. Which of course translates into bigger profits.

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

The house had a bank foreclosure for sale sign out front. I looked at the property right after someone else came out of the house and made an offer to the banker at the same time.