7 Wood Cove Flip - Our Highest Profit Flip!

[Seth Hobbs]

Investment Info:

Single-family residence fix & flip investment in The Woodlands.

Purchase price: $425,000
Cash invested: $90,000
Sale price: $775,000

Gorgeous 4 bedroom, 3 full bath, 2 half bath home in the highly sought after Cove section of The Woodlands. This flip took 2.5 months from purchase to close and needed a complete renovation. We went way over the top with the bathroom and kitchen which got us full price offer off the market! To date this is the best flip we have done profit wise.

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

We enjoy higher end flips

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

It was a probate deal that a fellow agent and wholesaler brought to our desk.

How did you finance this deal?

Hard Money

How did you add value to the deal?

We completely renovated the entire house to bring it up to current standards. It was highly outdated.

What was the outcome?

It was a very quick turn and is our most profitable flip to date.

Lessons learned? Challenges?

Construction on a luxury home is much different and costs more. You have to be able to distinguish that in your break down of cost up front. There are also longer lead times for certain items in higher end homes so you need to plan for those.

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

We have a real estate license in house