Fix and flip in north Miami

[Patrizia Sanino]

Investment Info:

Single-family residence fix & flip investment in Miami.

Purchase price: $113,000
Cash invested: $66,000
Sale price: $360,000

Total rehab in north Miami
With rehab costs profit $ 88 000

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

Nice spread

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

Wholesale source

How did you finance this deal?

Part my cash rest hard money loan

How did you add value to the deal?

Total rehab
Took more then 1 year
Lot of things I could have done better but still turned out a great rehab project with nice return

Lessons learned? Challenges?

My first fix and flip so I learned a from scratch hard way but great learning experience
Dealing with handymans, plumber, electrician, roofer, pulling permits, working with architect, inspections, lender , so every aspect of a total rehab

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

Yes sold by owner but got client by agent so paid only half commission