St Pete, FL near grand central district

[Fidel Solano]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $175,000
Cash invested: $267,000

This 3 bed, 2 bath BLOCK home has been fully remodeled in 2024. Renovations are fully permitted & city inspected. Featuring brand new roof, new windows, completely new electrical system, completely new HVAC system, brand new plumbing inside the house, and all new designer cosmetic updates, luxury inter-locking vinyl floors & luxury stretch ceilings with recessed lighting & full landscaping with new sod up front. Yard is fully fenced with brand new custom metal picket fence.

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

The location near the grand central district of St Pete,FL

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

I found it through a wholesaler, created a relationship and he accepted our offer

How did you finance this deal?

Hard money

How did you add value to the deal?

We completely remodeled the home, updated kitchen bathrooms, floors, roof, mechancial, electrical and plumbing.

What was the outcome?

We sold it to a home buyer

Lessons learned? Challenges?

Managing the rehab budget, need to get better at it as inflation continue to rise and labor and materials continue to increase