3 Bedroom 2 bath former meth house

[Jessie Redd]

Investment Info:

Single-family residence fix & flip investment in Chapel Hill.

Purchase price: $195,000
Cash invested: $40,000
Sale price: $322,000

3/2 1600 Sqft

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

My primary strategy

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

Arealtor brought me the deal.

How did you finance this deal?

Personal funds

How did you add value to the deal?

Cleaned up the landscaping, cleaned up the cabinets and countertops, installed tile in the bath and kitchens, new HVAC, leveled the foundation, ect.

What was the outcome?

Generated a $58K profit before taxes

Lessons learned? Challenges?

This was the first property I did after moving to the area. The back yard was filled with bamboo. This is some resiliant stuff. I would have sought a deeper discount to deal with it.

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

Yes