Pt Ludlow Fix and Flip

[Kyle Parks]

Investment Info:

Single-family residence fix & flip investment in Port Ludlow.

Purchase price: $167,000
Cash invested: $130,000
Sale price: $367,000

This was an off market deal. The property was pretty rough when we picked it up. We had a great contractor that delivered a fantastic product. We had a ton of interest when we came on the market and got a full price offer right away. Unfortunately the buyer got cold feet and backed out for no reason and then we had a lull in the market. When the weather got nice we got a good buyer and closed without a hitch.

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

The opportunity came up and the numbers worked.

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

A wholesaler brought it to our attention. We ran the numbers and agreed on a price.

How did you finance this deal?

Hard money

What was the outcome?

We sold it and made a good profit.

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

Yes. Myself. I managed the contractor and listed the property.