second deal: 1st Flip, Craftsman in the falls.

[Tim Broxholm]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $85,000
Cash invested: $50,000

2500 sqft craftsman 3bd 1 ba on main level with a 2bd 1 ba MIL in basement. The home had some structural issues and we got a pre-bid from a contractor and factored it into the numbers. We will be all into this house for about $130,000 and flipping it for $170,000-$180,000. The property will have two key Target Markets: A house hacker as bottom unit could be a great rental, Air BnB. A family who wants seperate living space (MIL).

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

Great floor plan, great margins, contractors, inspectors, who came by kept saying if I passed they would take it.

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

MLS, with my realtor

How did you finance this deal?

Private money

How did you add value to the deal?

Played the Maestro. Built the team, created win-wins for everyone in the value chain.

What was the outcome?

TBD

Lessons learned? Challenges?

On structural you can have the contractor look, but the real decision maker is the engineer.

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

Agent