Fix and Flip

[Todd Knudson]

Investment Info:

Single-family residence fix & flip investment in Missouri City.

Purchase price: $233,000,000
Cash invested: $233,000,000
Sale price: $380,000

Introducing Your Stunning, Completely Remodeled Home! This 2024 remodeled masterpiece is ready to impress! With fresh paint throughout inside and out, brand-new roof, dual HVAC systems, updated water heater, stainless steel appliances, lighting fixtures, outlets, countertops, and PEX plumbing just to name a few. Step inside and be captivated by the spacious open-concept layout, perfect for entertaining. The 2.5 bathrooms have been completely remodeled with luxurious showers and fixtures. Imagine waking up to breathtaking views of the Quail Valley golf course right from your backyard! This prime location offers a serene and peaceful setting. With 4 bedrooms and 2.5 baths, this home provides ample space for your family's needs. Don't miss out on this incredible opportunity to own a stunning, completely remodeled home in a highly desirable location! Contact me today to schedule your private viewing!

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

Client reduced price and using Direct IRA financing.

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

Found through past client

How did you finance this deal?

Direct IRA

How did you add value to the deal?

Complete remodel

What was the outcome?

I am not on the market for $380k

Lessons learned? Challenges?

Better job hiring contractor. NEVER use a friend. At the end of the day my "friend took me for $14000. and lost a friend".
In addition: I would withhold more money for completion. Would hole contractor more accountable and pull plug quicker.

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

I am a Realtor. Did the transaction on my own.