Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 9 months ago on . Most recent reply

User Stats

42
Posts
22
Votes
Mattias Clymer
  • Real Estate Agent
  • Harrisonburg, VA
22
Votes |
42
Posts

My first flip

Mattias Clymer
  • Real Estate Agent
  • Harrisonburg, VA
Posted

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $90,000
Cash invested: $50,000
Sale price: $235,700

My first flip

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

I was looking to get into the investing space more heavily and wanted to start with a flip.

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

A wholesaler came to my investment group meet up and presented the deal.

How did you finance this deal?

Used equity lines for the acquisition and funding the repairs.

How did you add value to the deal?

We opened it up, made a nice kitchen, changed the flow of a bathroom, new floors, paint, roof, and deck.

What was the outcome?

It was a great flip and we earned a good profit.

Lessons learned? Challenges?

The biggest challenge was getting past the initial fear that comes with a flip. It was a great decision and I don't regret it!

Most Popular Reply

User Stats

120
Posts
121
Votes
Jamie O'Connell
  • Rental Property Investor
  • Elmira NY
121
Votes |
120
Posts
Jamie O'Connell
  • Rental Property Investor
  • Elmira NY
Replied
Quote from @Mattias Clymer:

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $90,000
Cash invested: $50,000
Sale price: $235,700

My first flip

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

I was looking to get into the investing space more heavily and wanted to start with a flip.

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

A wholesaler came to my investment group meet up and presented the deal.

How did you finance this deal?

Used equity lines for the acquisition and funding the repairs.

How did you add value to the deal?

We opened it up, made a nice kitchen, changed the flow of a bathroom, new floors, paint, roof, and deck.

What was the outcome?

It was a great flip and we earned a good profit.

Lessons learned? Challenges?

The biggest challenge was getting past the initial fear that comes with a flip. It was a great decision and I don't regret it!


 Amazing profit! I am under contract for my first flip and nervous but excited.

  • Jamie O'Connell
  • Loading replies...