Successful Joint Venture!

[Audra Richmond]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $315
Cash invested: $205
Sale price: $702,500

Ranch style home, complete gut with kitchen remodel. Added additional bathroom and office space. Other upgrades included: new electrical, plumbing, HVAC, carpet, hardwoods, gas fireplace, sprinkler system, sod and much more!

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

Great location and the home had a solid foundation plus proper square footage to add bathroom, office and mud room for updates.

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

Found using a wholesaler and stayed in contact to negotiate purchase price.

How did you finance this deal?

Cash, HELOC

How did you add value to the deal?

Helped source contractors, bids, design, and I'm a real estate agent.

What was the outcome?

My split brought me a 70K return

Lessons learned? Challenges?

Be sure not to give my real estate services away

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

I used Paramount Title and they were investor savvy enough to close my deal.