Direct mail Score after months!

[Seth Hobbs]

Investment Info:

Single-family residence fix & flip investment in Spring.

Purchase price: $100,000
Cash invested: $45,000
Sale price: $181,000

This flip was purchased from a direct mail campaign and took a few months to close due to some title heirship issues. But we got it closed and took under 3 weeks to renovate including a new roof, AC, and landscaping. We completely remodeled everything on the inside to bring it up to today's standards. There was some good profit made on this one!

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

It is one of our target areas for fix and flips. We have been mailing to this area for several months.

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

The owner called us and needed a way out. We new exactly where we needed to be numbers wise and came to an agreement.

How did you finance this deal?

Private money

How did you add value to the deal?

We completely renovated the inside, and I mean everything. We also put a new roof on as well as a new AC system

What was the outcome?

The home was under contract in 8 days for a little under list price and we are moving on to the next one!

Lessons learned? Challenges?

Contractors are always the hardest part of the process! Getting the right crew is so crucial. We are in the process of building our own team so we don't have to rely and poor general contracting.

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

I am the agent on the deal. So yes!