SFH Flip - Delton FL

[Robert Woodyard]

Investment Info:

Single-family residence fix & flip investment in Deltona.

Purchase price: $180,000
Cash invested: $38,000
Sale price: $309,000

Contributors:
Jose Betancourt

JV deal with partner/mentor Jose Betancourt. Cash invested was my portion, not full cost of project.

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

After several mentorship properties Jose and I went JV on this project.

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

Negotiated through a realtor.

How did you finance this deal?

Hard money loan with rehab wrapped in.

How did you add value to the deal?

Full rehab - Bathrooms (turned 1.5 into 2 full), kitchen, flooring, etc.

What was the outcome?

Went slightly over budget but had plenty of room. Sold after 4 months closing to closing.

Lessons learned? Challenges?

Things can come up! Starting the bathroom we found plumbing that needed replaced as it was not to code. Same thing with the electrical box. Overall the project went smooth, just some problems along the way.

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

Jose Betancourt