Updated almost 7 years ago on . Most recent reply
Home rehab in wyoming greater grand rapids mi
Investment Info:
Single-family residence fix & flip investment in Wyoming.
Purchase price: $13,100
Cash invested: $30,000
Sale price: $79,900
This was my first fix and flip, The house was in complete disrepair, it was gutted to the studs, spray foamed, new electrical & plumbing. replaced the water heater and furnace with new high efficient models, new drywall & siding, porches, basically the whole house besides the roof and studs. The hardest part was not having the funds and paying cash for everything. It took about year to get the project done.
What made you interested in investing in this type of deal?
My dad is a general contractor and previously had done fix and flip deals until the crash of the market.
How did you find this deal and how did you negotiate it?
I seen the house on the MLS list for $13000, I immediately put an offer of 13,100 on the house.
The scariest part of the house was I did not have all the cash available, I hustled my A** off to have the cash in the 30 days after my offer was accepted.
How did you finance this deal?
I paid cash for everything, it was a huge struggle as I did not qualify for financing.
I was self employed with another business.
