Madison Street Law Office to home flip

[Bryan Craven]

Investment Info:

Single-family residence fix & flip investment.

Sale price: $242,000

Converted a law office back to a residential home. Required re-zoning and addition of 2 residential bathrooms and complete renovation of kitchen.

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

Previous house-flipping success.

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

Looked in MLS for commercial property that could be converted to residential.

How did you finance this deal?

Home equity line.

How did you add value to the deal?

Cleaned up property, replaced flooring, renovated bathrooms and kitchen.

What was the outcome?

Nice profit.

Lessons learned? Challenges?

Time is money. Better to pay more to finish quickly than to wait around for cheaper labor.