Florida Condo Renovation

[Erik LaBonte]

Investment Info:

Condo fix & flip investment.

Purchase price: $130,000
Cash invested: $50,000

Full renovation with all proper permits underway. The property is a 2br/2ba unit just short of 1100 sq ft. We have a crew on the ground performing the majority of the work and aim to list in February. Pictures and details to come!

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

The price point made this a compelling opportunity. The big part of this, however, was the association at The Gates is in good financial shape. They have money in reserves, funding, and plans to wrap up a sizable roof renovation project by February. The potential for this unit as a flip or as a long term hold was very enticing.

How did you finance this deal?

Cash offer

How did you add value to the deal?

Permits, permits, permits! It's time consuming and expensive, but in South Florida having the work permitted makes a huge deal when it comes time to re-sell.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Kelly Coughlin is a fantastic real estate salesperson for the investor! She's extremely knowledgeable and very hard working. I could not recommend her highly enough.