Real estate is the best passive income for your portfolio

[John Velez]

Investment Info:

Townhouse fix & flip investment.

Purchase price: $115,000
Cash invested: $35,000
Sale price: $240,000

Move in ready, fully renovated townhouse, 2 bedrooms with 2 1/2 bathrooms and ample closet space including walk-in closets in each master bedroom. Great location near shopping, restaurants, entertainment and the beach. All new Samsung appliances, new flooring, quartz and marble countertops throughout the unit, including all new wood and soft close cabinets and your own private fenced in yard great for entertaining and more.

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

The numbers made sense.

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

I found this property thru a referral and I negotiated with the seller directly.

How did you finance this deal?

this was a regular conventional loan.

How did you add value to the deal?

we remodel the entire townhouse. All new Samsung appliances, new flooring, quartz and marble countertops throughout the unit, including all new wood and soft close cabinets and your own private fenced in yard.

What was the outcome?

We had over 15 offers.some at full ask and others where over ask.

Lessons learned? Challenges?

Challenges have all material on hand right after demo day.

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

I am a real estate broker, i used level 10 title for our closing.