Single family flip/house-hack

[Byron Rowland]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $294,000
Cash invested: $80,000

Bought a single family HUD home for $294,000, it was in very rough condition but was on a half-acre lot. I invested 80,000 into it in 2019 which immediately made the property worth $450,000. Today in 2024, the property is now worth $550,000! It took a lot of sweat equity and the help of family members and friends, I have a lot to be grateful for.

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

I was interested in investing in real estate. I did not care what the size, condition, or area of the home, I just wanted something that was a deal.

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

Found it listed for sale on Zillow.

How did you finance this deal?

Conventional financing.

How did you add value to the deal?

I took first time home-buyers advantages.

What was the outcome?

Great property, perfect for the family until we can sell this place and do it again!

Lessons learned? Challenges?

The house was sitting vacant for awhile, that came with much needed repairs. I learned a TON about how to fix and remodel myself. Aside from the equity in the house, the most worthwhile part of buying this property was learning how to do things myself.

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

Mike Renard - real estate agent. (awesome!)
Steve McKenna - Lending agent. (incredible!)