Roger's Park Condo

[Jake McVey]

Investment Info:

Condo fix & flip investment.

Purchase price: $88,000
Cash invested: $44,811
Sale price: $190,000

1 bed 1 bath 3rd floor walk-up just a block from the lake in Roger's Park.

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

The price and location. We don't work in the city typically, but this deal fell in our lap and with the price and how close it is to the lake we decided it was too good of an opportunity to pass up.

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

It was brought to us by a colleague- the family wanted to sell fast and easy. We have a reputation for doing just that so they came to us.

How did you finance this deal?

Cash

How did you add value to the deal?

Complete renovation- flooring, bathroom, kitchen, some windows, trim, paint, etc...

Lessons learned? Challenges?

Although this one worked out, we learned we probably won't be going back in the city for other projects. It's too far for us to feel comfortable with it and we simply don't know enough about the different areas.