Fix and Flip

[Devin Dorame]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $164,000
Cash invested: $300,000
Sale price: $995,000

2,900 Square Feet
5 Bedrooms 3 Bathrooms
University of Arizona Adjacent

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

My partner was familiar with the Tucson Arizona from going to college and spending time in Tucson. Turned out to be a very strong housing market with limited Custom Luxury Home Builds

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

Deal found and negotiated in house.

How did you finance this deal?

Mix of hard money and cash personal funds

How did you add value to the deal?

Demoed the whole house except one wall added 3 extra bedrooms 2 bathrooms customer fixers raised ceilings a pool and many more details.

What was the outcome?

Successful sale of the house setting a record in the neighborhood.

Lessons learned? Challenges?

First house flip was very time consuming learned a lot. Good to have a solid GC in place to spearhead the construction if you are new to building.