Greathouse Flip, Now I'm hooked

[Rae Greathouse]

Investment Info:

Single-family residence fix & flip investment in Amarillo.

Purchase price: $195,000
Cash invested: $40,000
Sale price: $260,000

Home was located in a awesome school district. They started high on the market and it set until winter with it being in a estate so the children were just ready to move it. Home features 2050 sq ftm 3/2/2 with a over 500 sq ft basement and a 24x24 shop. We completely transformed the closed off, carpet everywhere home into a home we would want to live in (and we did for a few months!). Fun project but a TON of work. Here are just some of the home's after pictures.

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

Had to get my feet wet

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

I'm a realtor and I have a pulse on the market

How did you finance this deal?

Conventional

How did you add value to the deal?

Remodeling

What was the outcome?

Better than I thought we would do

Lessons learned? Challenges?

Hire out stuff that takes too much of your time but don't be afraid to get your hands dirty to save money.

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

Myself!