Flipping in Chattanooga!

[Tony Savage]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $95,000
Cash invested: $185,000

This is a flip that I purchased in the name of an LLC I formed with two partners. This is our second flip in Chattanooga. P.P was 95K and rehab is 90K.

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

The numbers worked for the return that I wantedN

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

A good friend of mine who is now one of my partners had contacts in Chattanooga

How did you finance this deal?

Cash

How did you add value to the deal?

Replacing pretty much everything... new roof, kitchen, bath, AC and flooring

What was the outcome?

In Progress

Lessons learned? Challenges?

Still learning, no big challenges yet

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

Yes, I have an agent in Chattanooga that works with investors.