Flipped home opportunity

[Lorelei Hilz]

Investment Info:

Single-family residence fix & flip investment in Sherman.

Purchase price: $162,500
Cash invested: $30,910
Sale price: $272,500

The house was already partially renovated from the seller. He couldn't do it anymore due to health crises. We updated the kitchen, the bathrooms, and the flooring. Paint the interior of the house and fix the waterless tank. Add the fencing as well.

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

The house was the largest in the block and saw an opportunity to rehab and sell to clean up the neighborhood.

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

Zillow... It was on the market way past 60 days and the seller saw an opportunity to get it sold.

How did you finance this deal?

JV agreement

Lessons learned? Challenges?

Do a better background check on a contractor.

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

Carla Johnson is one of the best I have worked with. She is investor friendly and works very hard to get your home sold.