Suburban Fix and Flip

[John Williams]

Investment Info:

Single-family residence fix & flip investment in Dallas.

Purchase price: $82,500
Cash invested: $43,000
Sale price: $184,900

Negotiated seller financing, absorbed a troubled tenant situation and managed tenant out within 60 days using my property management company. Rehab project began immediately upon move out and completed exactly two months later. Property was listed on the FMLS 12/4/18 and under contract by 01/07/19 for $184,900. Closing is scheduled for 02/08/19

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

I had previously negotiated subject-to deals and felt that would be the best approach to benefit all parties. The sellers were fantastic to work with, and a win-win deal was crafted for all.

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

Referral

How did you finance this deal?

Seller financing

How did you add value to the deal?

Complete redesign to include open concept floorpan and upgraded features throughout.

What was the outcome?

Property went under contract in roughly 30 days with a closing date of February 8 for $184,900

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

My property management company handled the tenant situation in providing a vacant property within 60 days and as an agent, I represented the transaction on the front and back end. I partnered with a local contractor, which allowed for an expedited rehab.