Fix and Flip for sale

[Myer Johnson]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $110,000
Cash invested: $88,000

Woohoo my project is finally finished and is listed for sale! This was originally a 2bd/1bth. It's now a 3bd/2bth. This was definitely a learning experience. A few road bumps were overcome, but my next goal is to build a new build!

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

This is something I've always wanted to get into and I was presented with the opportunity. The time was right so I jumped in and got my feet wet!

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

A friend of mind is a realtor and she presented it to me. I didn't really have to negotiate it, because she had already did the negotiating. She also works at a funeral home so these type of deals fall in her lap all the time

How did you finance this deal?

Hard Money

How did you add value to the deal?

I was able to get approved for the loan

What was the outcome?

The home is now listed for sale

Lessons learned? Challenges?

Definitely learned that budgeting the rehab correctly is sooooo important. That was one of the challenges we faced, because the original contractor budgeted the project to low. We then brought in another contractor and we ended up being about 30k under budget on top of his 10k contractor fee.

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

Allie Baccus 0638143 469-597-5865,
Keller Williams Realty
She always has these type of deals available