First Fix and Flip

[Shannon Green]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $72,000
Cash invested: $40,000
Sale price: $180,100

I found this great little house coated in smoke but solid. Everything went great. Sold for more than anticipated.

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

I was interested in this deal due to its location and being a good solid house

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

I found this house on our MLS . I'm an agent . easy negotiation, we did offer asking price since everything is selling so fast here. but there was still a good marge originally.

How did you finance this deal?

I partnered with a person I have known for years. He is in Corporate Realty and wanted do some residential real estate. We will continue to work together. He funded and I managed.

How did you add value to the deal?

We added value with complete updates. Opening the Kitchen. Closing in garage to make a full laundry room and a 3 rd bedroom. I chose light colors to open it up more..

What was the outcome?

Good outcome. Sold for more than anticipated, Under contract in 8 days

Lessons learned? Challenges?

we were very fortunate not face any major issues. My contractor is very thorough and a great problem solver. We never went over his initial bid.