114 Larch - My first flip

[Angie Perez]

Investment Info:

Single-family residence fix & flip investment in Monroe.

Purchase price: $120,000
Sale price: $260,000

My first flip. Got private money for the purchase, the rehab and even the interest payments. A good payday in the end, especially for my first.

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

My dad was a real estate investor. I worked for him for many years and helped him flip dozens of homes. When he retired, I decided to do my own flip.

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

This was a family friend that wanted to sell in order to be closer to family.

How did you finance this deal?

Private Money

How did you add value to the deal?

I am a realtor and I comped it with the MLS

What was the outcome?

Made a really good payday, the family moved to be closer to their family and a new family moved in with room to grow.

Lessons learned? Challenges?

No real challenges, but I'm glad I left a lot of miscellaneous rehab costs in the budget.

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

I would recommend myself as a real estate agent. :)