Flip in CLE

[Ricardo Navarro]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $136,000
Cash invested: $90,000
Sale price: $260,000

full renovation from studs

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

wanted to do a full gut renovation for a flip

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

off market, novation agreement

How did you finance this deal?

intrest free credit cards and cash

How did you add value to the deal?

fixed the entire property

What was the outcome?

sale

Lessons learned? Challenges?

be sure to stick to your 70% rule for the flip, know your numbers. run everything conservatively. overbudget for time and costs but 15-20%

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

Erin and Dwight Robinson are my realtors in CLE. They are investors themselves and are great at what they do.

[Ricardo Navarro]

tell me about it! lol not sure what I am getting into this year but always looking. really trying to grow the unit count. i probably won't do a flip. I'll rehab and brrrr if it makes sense but I'll either stabilize my real estate company a bit or move on something if a killer deal crosses my desk. always looking for small multi's on clevelands east side.