Complete Flip Overhaul in Tuckerton NJ

[Jasmin Elalfy]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $175,000
Cash invested: $90,000

This was one of the hardest renovations we have completed to date, the house was very neglected for over 30 years. We replaced everything. We found the deal off the MLS there was an investor/realtor who owned it (inherited) and didnt want to bother with reno so we took it off his hands for $175,000 put in $90k/$100k & ARV $350k-$365k max. We are still under construction but we ended up having to do everything including sub flooring, attic, roof, HVAC etc.

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

Cheap purchase & potential ARV

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

Off market through a realtor/investor

How did you finance this deal?

used Hard money

How did you add value to the deal?

adding a half bath, complete reno.

What was the outcome?

still ongoing! Hoping to put back on market for $350k and get over ask at $365k

Lessons learned? Challenges?

Dont bite off more than you can chew. We underestimated the amount of work.