Off Market Bala Cynwyd Flip/Rental

[Dan Powers]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $390,000
Cash invested: $40,000

A rare off market twin in Bala Cynwyd! This property was super clean as it which made it a perfect candidate for either a flip or a rental. My investor plans on holding this property and renting it out for north of $3200 for a few years then eventually flip it with a goal of selling for $560k+.

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

What made my investor interested in this deal was the area. Bala Cynwyd is one of the hottest neighborhoods in the Philadelphia suburbs located in the coveted Main Line. With fantastic schools, constant appreciation, and more demand then inventory can account for, anything that comes on the market in this pocket will sell in under a week.

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

This deal was sourced through New Western and was sold as a 48 hour highest & best.

How did you finance this deal?

My investor bought this deal cash.

How did you add value to the deal?

Value is being added to the this property by doing cosmetic rehab throughout. All new kitchen and bathrooms, painting throughout, scraping and refinishing the hardwood floors. None of the mechanicals are being touched at this moment, but with plans to add central A/C in the future.

What was the outcome?

The outcome is a very happy investor to secure a property in the Main Line under $300 per sqft.

Lessons learned? Challenges?

Only challenge we had was figuring out what it would take to win and beat out the other investors, other than that smooth sailing.

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

Dan Powers - New Western