Community Reinvestment Project

[Lindsey R.]

Investment Info:

Single-family residence fix & flip investment.

Cash invested: $120,000
Sale price: $180,000

Full rehab of single family home. The project got off to a slow start with the building department. The actual rehab was completed in roughly 6 months.

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

This was a community investment project. I want to see improvement in my own community so I jump on this opportunity when I heard it was available.

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

Through networking with our local building department. We had to make a presentation and be awarded the property.

How did you finance this deal?

PML

How did you add value to the deal?

Updating all the mechanicals, refinishing the wood flooring, adding a 1/2 bath, flipping the kitchen from the existing kitchen into the dining room to make it more usable, updating the full bath, and adding a garage as well as painting throughout.

What was the outcome?

A quick sale above the expected price.

Lessons learned? Challenges?

Get clear estimates.