Fix and Flip in an up and coming area.

[Michael Roberts]

Investment Info:

Single-family residence fix & flip investment in Michigan City.

Purchase price: $40,900
Cash invested: $6,000
Sale price: $80,000

Fix and Flip

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

Location

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

I'm a licensed real estate broker.

How did you finance this deal?

Cash

How did you add value to the deal?

Installed new flooring.

What was the outcome?

Very profitable in a short period of time.

Lessons learned? Challenges?

I had already new of this rule, but this was a FHA deal, and the home is required to be owned by the investor for 90 days. Which tied it up for awhile.

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

I was the broker on this transaction, and the investor.