Live-in Renovation Project

[Brandon Sturgill]

Investment Info:

Single-family residence fix & flip investment in Dayton.

Purchase price: $200,000
Cash invested: $7,500
Sale price: $260,000

This was a FHA live-in renovation project. It was in good shape when we bought it, so it was mainly a heavy cosmetic upgrade. The market was turning up at this point, so we were able to set the pricing trend in the neighborhood. Despite being massive, these properties were still selling at "Midwestern" prices. After this sold, the neighborhood realized a $20/sq.ft. increase in sales prices.

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

We were doing one of these a year

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

Off-market expired listing from a private seller

How did you finance this deal?

FHA

How did you add value to the deal?

Comparable market analysis

What was the outcome?

We were able to set the pricing trend for the neighborhood...and make a solid tax deductible profit.

Lessons learned? Challenges?

Live-in rehabs are hard