My East Dallas Flip - Great Investment area in Dallas!

[Tammy Patchin]

Investment Info:

Single-family residence fix & flip investment in Dallas.

Purchase price: $185,000
Cash invested: $45,000

SFH, 3/2, 1960 sq feet, 2 car garage

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

This house was previously a rental property with a moderate rehab. It needed a few more touches to make it retail ready.

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

MLS / Buyer's Agent

How did you finance this deal?

HML / Personal Funds

How did you add value to the deal?

Enhanced the property with new lighter paint, flooring and bathroom / kitchen upgrades.

What was the outcome?

Spent a little more than I planned mostly due to poor contractors. However, still had a good profit.

Lessons learned? Challenges?

Understanding the neighborhood and the level of upgrades it can sustain. I love the design portion of the process so need to be very careful not to overdo. Find a way to make it look expensive without being expensive. Also, managing poor contractors' performance was much needed on this project and I am finding, will be more of the norm than the exception.