First flip for my wife and I

[Chris Phillips]

Investment Info:

Single-family residence fix & flip investment in Tyler.

Purchase price: $75,000
Cash invested: $25,000
Sale price: $120,000

great first flip for us. Just bought our next one.

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

We have rentals but wanted to try the fix and flip model to see if we enjoyed it and we did!

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

Auction.com. Live auction.

How did you finance this deal?

Cash

How did you add value to the deal?

Completely redid flooring, painted inside and out, new appliances, fixtures, fans, doors back fence, added back porch, trimmed trees.

What was the outcome?

great!

Lessons learned? Challenges?

Takes longer to get contracting help than I thought. Working on developing those relationships to ensure quicker turn time on this next one.

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

I am a real estate agent