My First flip

[Salvador Ontiveros]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $49,900
Cash invested: $40,000
Sale price: $260,000

Bought this property in a partnership deal, as both the general contractor and 50% owner.

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

The incentive of the guidance and introduction to real estate investing was something I just could not pass up.

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

This deal was presented to me as a potential partnership deal to get my foot in the door and learn a bit about real estate investing.

How did you finance this deal?

My partner on the deal financed it using his W-2 income.

How did you add value to the deal?

Complete gut, redesign the layout and remodel.

What was the outcome?

Decent financial returns but an amazing learning experience

Lessons learned? Challenges?

-Always have multiple exit strategies.
-always plan for unexpected expenses
-attention to detail can emensly increase ARV.

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

None at the moment.