First Fix & Flip

[Karl Denton]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $95,000
Cash invested: $25,000

House went to tax lien auction, homeowner was going to be homeless with no money. We were able to work a deal in the last 2 weeks before it was finalized, we had to pay the max amount of interest for back taxes and water bills and liens on the property. The seller was able to walk away from a bad situation with some money in her pocket, we will be helping her move and relocate into an apartment. I brought a partner into this deal to get it done, I will be funding the rehab portion of this Fix and Flip deal.

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

Being able to help someone who was going to walk away with nothing, and there was also lower cap ex.

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

Lead came through someone who knew she needed help, and knew I could get the deal done for her.

How did you finance this deal?

Cash from bringing in another investor.

How did you add value to the deal?

We will be adding a new kitchen and furnace and flooring.