Cashflow-OHIO REA Flip!

[Tristan Gardner]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $60,000
Cash invested: $35,000

Taking down our first foreclosed property here in Mansfield, Ohio! I've had really good luck with the upper starter home level homes with an ARV around the 150,000 mark. Our market is called off a tad, but this type of inventory continues to move super fast.

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

Low entry, limited inventory on market, a quick 2-3 month project

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

On market. We sent 6 offers, one per week until the bank finally accepted.

How did you finance this deal?

PML @ 1% per month with all payments deferred until closing. That's some good stuff right there!

How did you add value to the deal?

This is a lipstick + flip.

New floors, paint kitchen counters, cabinet faces, new bath, install central air

What was the outcome?

It will be a quality, move in ready home for a first time home buyer

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes, the GOAT John Pavlansky at Dream Huge Reality in Mansfield, OH. Tell him I sent you!