My very first solo and vacant deal!

[Erick Jordan]

Investment Info:

Single-family residence fix & flip investment in Commerce.

Purchase price: $63,000
Cash invested: $74,000
Sale price: $189,000

Complete 100% remodel of 2 bed 1 bath home to make a 3 bed 2 bath home. I closed in the garage to make a master bed / bath / walk-in closet and laundry room. Completely new HVAC, roof, and septic system.

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

the numbers made sense...

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

It was a wholesale. I got it for 3,000 below asking on the deal

How did you finance this deal?

cash/card, all personal. 100% on my own

How did you add value to the deal?

I am a Realtor so I just looked at the actual comps in the area.

What was the outcome?

I made almost $40,000 on this deal so I am ok with it.

Lessons learned? Challenges?

I took WAY to much time getting this done, lol. Make decisions faster. Make hard calls sooner than later.

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

Yes, me Erick Jordan!!! lol. Let me know if I can help you with anything!!!

[Greg Gaudet]

Great job! Not bad numbers. Would love to see a couple before and after pics. Man I wish we could do deals like that here on Maui! lol Distressed SFHs start around 400-500k here. But at least there are some condos that I can get distressed for under 200k