My first flip Property

[Brian Egr]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $45,000
Cash invested: $40,000
Sale price: $109,950

First Flip!!!

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

It was a small house that a previous investor had started on and gave up on after the demo work was done.

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

We found this deal on the MLS, it was listed for $60,000.00, we negotiated it down to $45,000.00.

How did you finance this deal?

Combination of bank financing and personal line of credit.

How did you add value to the deal?

Did a lot of the actual work on the house myself. Framing, painting, flooring, siding, etc....

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

This was also the first house I sold with my REALTORS license.