Fix & Flip investment property

[Paul Georgia]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $10,000
Cash invested: $25,000
Sale price: $50,000

The house sold at a profit.

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

Purchase price was very low.

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

It was listed on Craigslist. I paid the listed price.

How did you finance this deal?

Cash and personal line of credit.

How did you add value to the deal?

Full rehab.

What was the outcome?

House sold at a profit.

Lessons learned? Challenges?

Hire an experienced contractor. The guy I hired did good work, but was too slow due to inexperience.

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

I used a real estate agent to sell.