First Time Fix & Flip

[Andrew Roberts]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $195,000

Cash invested: $50,000

Sale price: $360,000

Contributors:
Matthew Teifke

One story single family home in South Austin with a converted garage.
4 bed/2 bath - 1800 sq ft.

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

It was in a great neighborhood, surrounded by nicer houses and the numbers worked.

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

Found this deal through a wholesaler.

How did you finance this deal?

Partnered with a few guys. We all put in a small amount of cash, got a hard money loan for the house and for rehab.

How did you add value to the deal?

Complete flip.

What was the outcome?

The house was on the market for 2 days after work was complete, then we were under contract for a price that was better than we expected.

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

Austin Property Buyers were our partners and the guys who did all the work. I could not recommend these guys more! They are good people and do outstanding work.