First Flip Property

[Aaron Provencal]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $272,000
Cash invested: $115,000
Sale price: $475,000

This was our first rehab project

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

This property had a very large lot

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

We found this one on the MLS

How did you finance this deal?

We were able to get standard mortgage financing

How did you add value to the deal?

We did a master suite addition to the property

What was the outcome?

The project took a little longer than anticipated

Lessons learned? Challenges?

We were in a hurry to sell the property as we were in the middle of COVID. We could have held off for a higher offer as the market stayed strong.