My First Flip in Arizona

[BJ Shagena]

Investment Info:

Single-family residence fix & flip investment in Glendale.

Purchase price: $140,000
Cash invested: $70,000

Complete demo and remodel property. Located property in historic neighborhood in Glendale.

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

This property hit my financial requirements from the start.

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

My realtor had a wholesaler and sent opportunity to me.

How did you finance this deal?

Hard Money loan

How did you add value to the deal?

Complete gut of the 1950's and Updated 1970's house and Updated with all new everything.

What was the outcome?

Still on the Market.

Lessons learned? Challenges?

This property had outdated electrical. When we started work on the electrical for the GFCI in the bathrooms and kitchen we found the property was not properly grounded. We ended up spending over $10k to do the electrical with a $2k budget. My suggestion would bring in a professional at the beginning to help assess the situation and give a good professional quote.