Quick (sort of lol!) Fix & Flip

[Khadijah Bell]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $194,000
Cash invested: $15,000
Sale price: $275,000

3/3 SFH mostly cosmetic rehab.
Original List Price: $209K ---- Actual Purchase Price: $194K
Estimated costs: $10K ---- Actual costs: $15K
Desired Sale price: $300K --- Actual Sale Price: $275K

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

It was in my neighborhood

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

MLS; with agent

How did you finance this deal?

Hard Money

How did you add value to the deal?

cosmetic upgrades; new mechanicals

What was the outcome?

Rehab took longer than expected due to contractor issues but we were able to find a new contractor, complete the work and get the property sold.

Lessons learned? Challenges?

Trust but verify! Check contractor references

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

Yes. Locklin Capital and real estate agent Belma Cachon