Relocation Sale to Renovation in York, PA

[Ben Fernandez]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $74,000
Cash invested: $25,000
Sale price: $145,000

I acquired a property from a couple needing to relocate, with significant repairs required. After renovating, I updated the interiors, addressed exterior issues, and enhanced the overall appeal. Once completed, the property was resold to new homeowners, providing a solid return on investment. This project highlights how purchasing from motivated sellers, making strategic renovations, and selling to retail buyers can lead to successful outcomes.

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

The owners reached out to me from a direct mail campaign. When we met, I learned that it was a project I was interested in. So I made them an offer. They liked my offer and the rapport I built with them and decided they wanted to sell to me even though another offer was higher.

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

The owners called me expressing interests in selling after receiving direct mail. I negotiated by being honest and transparent about every step in the process.

How did you finance this deal?

I purchased this deal with a private/hard money lender.

How did you add value to the deal?

There was minimal demolition needed on this project. I revitalized the front and rear lawns, fully updated the kitchen and bath, along with new flooring, paint and the works.

What was the outcome?

We sold to an attorney who provided a retail-cash offer and quick close, relocating to the area.

Lessons learned? Challenges?

There were some communication learnings on this project where I acknowledged to emphasize expectations.

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

I would recommend my lender on this one. All other parties were used from a prior project. I’m loyal with people who provide good service.