This beautiful home started out a douzy!

[Marquita Millen]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $105,000
Cash invested: $109,000
Sale price: $270,000

2/1 at 644sf, [tear down/rebuild] converted to 2/2 at 942sf (New Framing, plumbing including main, roof, septic, hvac, foundation addition, grading, all new electrical, pocket doors, appliances, fencing)

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

I am a passionate designer but my team was limited. This project was small enough to allow me to showcase my skills, expand my team, network and grow, as well as provide a beautiful home to a deserving family. The reward!

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

Seeking wholesale deals and a maximum allowable offer calculator I was able to get a reasonable purchase price due to the condition of the home and lack of movement in the area.

How did you finance this deal?

Hard Money

How did you add value to the deal?

Knowledge, enhancements, designed, used my team and GC to subcontract the build, listed and sold the property.

What was the outcome?

I made more money for myself and the other investor than he would have made had his money sat on the stock market!

Lessons learned? Challenges?

Watch your cost aggressively because they can add up quickly if you don't know what you are doing or maintain a contingency. This particular project was listed too soon and priced too high at the nudge and request of the investor and in the end everyone still won, including the homeowner but I should have stuck with my knowledge and gut instincts rather than be moved!