My first fix and flip

[Justin Pickering]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $220,000
Cash invested: $40,000

Currently for sale at $300,000

Lessons learned? Challenges?

This is the nicest of our rental portfolio; however, it has gone three months without renting!!! Biggest lesson learned from me is a nice house doesn't mean affordable. The average citizen in Crestview, Fl can not afford a $2,200 per month rental. I have marked it down to $1900 and still no traction. $1800 seems to be the top of the price point in this town. Buying cheaper houses and simply making them livable is all people want in this town.