My first flip since getting my RE license

[Craig Clinton]

Investment Info:

Single-family residence fix & flip investment in Nutley.

Purchase price: $210,000
Cash invested: $190,000
Sale price: $490,000

Full gut, new roof, repaved driveway, etc. Contractor flaked out towards the end and we had to fire him. My partners and I hired a few people and did what we could to finish the last remaining items. Overall, an awesome experience! My second flip ever. We made a nice profit and I learned tons.

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

SF flips is what got me into RE investing

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

I found this deal on the MLS. We got lucky in that we lost out on bidding on this house 2 times before getting it on the third try. So by that time, we got it at a great price.

How did you finance this deal?

Hard money and personal money for the gap funding.

How did you add value to the deal?

Helped manage the contractor

What was the outcome?

Profitable and a great learning experience.

Lessons learned? Challenges?

Finding a good, reliable contractor is vital.