Georgia Newbies Fix & Flip

[Brenda Hamstead]

Investment Info:

Single-family residence fix & flip investment on Lake Allatoona.

View the Before & After Slideshow

Purchase price: $106,000

We rehabbed this property over a long 6 month process. We were newbies on this fix and flip and have learned to keep an eye on the contractor and fire if need be.

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

We have always wanted to pursue real estate investing on the flip/fix side.

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

Bought it on the Court House steps

How did you finance this deal?

Cash

How did you add value to the deal?

Major rehab- down to studs

What was the outcome?

Gorgeous updated home in a great location on the lake.

Lessons learned? Challenges?

Contractor promised that it would be completed end of June but didn't get the CO until October. Very frustrating lesson but an important one for us to learn as we begin this new venture.

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

Myself! I love real estate investing and look forward to many more opportunties.