Almost no money in a score!

[Seth Hobbs]

Investment Info:

Single-family residence fix & flip investment in Houston.

Purchase price: $115,000
Cash invested: $3,000
Sale price: $155,000

This flip was bought from a wholesaler. All I needed to do was clean out all the junk in the home, put new carpet in upstairs and repaint a couple walls. This one sold 5000 cash over asking price in 1 day. These are rare to find!

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

I was able to do this with a little bit of money and I knew that it would fly off the market.

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

I got the deal from a local wholesaler and was able to negotiate it down just a bit.

How did you finance this deal?

Hard Money, and then paid for the repairs out of pocket since they were only 3K.

How did you add value to the deal?

I cleaned up all of the garbage and junk throughout the home, painted a few walls, and put new carpet in. With that and the photographs we take as well as the location, I knew it would hit!

What was the outcome?

I had bought and sold this home in 1 month. The fastest flip I've done to date.

Lessons learned? Challenges?

This was honestly not very challenging.

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

I am the agent.