My 1st Fix & Flip

[Min Zhang]

Investment Info:

Single-family residence fix & flip investment in Columbus.

Purchase price: $62,000
Cash invested: $60,000

Project in progress: Off market deal
Purchase: $62,000
Rehab: $60,000
ARV: $165,000

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

It's the only that I can affordable

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

Through a wholesaler

How did you finance this deal?

hard money

How did you add value to the deal?

It's almost a full gut. I expanded the kitchen and updated the bathroom

What was the outcome?

I end up spending 20k more than I expected. Initially the numbers were 40k for rehab cost

Lessons learned? Challenges?

Pipe leaked after closing. Didn't do an inspection on the sewer. That cost us 3k to fix

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

I bought it with my mentor and partner who has experience in renovation and hard money financing