Another Example of House Flipping in Cleveland Ohio

[Kim Gerette Martorana]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $75,000
Cash invested: $17,000
Sale price: $137,000

Older seller home which was well cared for but needed some upgrades and updates to make it perfect. Located on a mostly owner-occupied street, this one was on market about 2-3 weeks and then closed in a month to a cash, investor buyer.

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

Rehab was minimal / cosmetic and street was well cared for and mostly owner-occupied.

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

From another investor who brought it to my attention

How did you finance this deal?

True private money loan for 72k and I financed the other 20k for rehab personally.

How did you add value to the deal?

Polished up a pretty well kept house and brought it to 2024 buyers eye-appeal

What was the outcome?

A very nice profit

Lessons learned? Challenges?

Purchased a lot supplies and fixtures on Facebook Marketplace and fell in love with the offerings on that site; many great pieces at discounted prices.

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

I was my own realtor on the sale. I was pretty easy to work with, knowledgeable and a great sense of humor!

[Kim Gerette Martorana]

Hi Jaycee Greene - loved the question about the realtor on this deal.  The answer is always a resounding YES!!