1555 Three Oaks Ave flip

[Jestin Sorenson]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $170,000
Cash invested: $70,000
Sale price: $325,000

Purchased this property under a contract for deed with $48,000 down and paid off on or before a year later so that we didn't have to pay a hard money lender

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

Huge profit margin on this deal.

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

Direct mail marketing

How did you finance this deal?

Contract for deed. Cash downpayment

How did you add value to the deal?

By putting in over $70,000 in renovation

What was the outcome?

Just listed on the market.

Lessons learned? Challenges?

Went over budget. A lot more costs than anticipated, but we had a huge margin for error as well. Need to estimate costs better next time.

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

A attorney to draft the contract.