Buy and Flip Investment

[Lorena Correa]

Investment Info:

Single-family residence fix & flip investment in Orlando.

Purchase price: $135,000
Cash invested: $10,000
Sale price: $185,000

This was a shortsale deal. It took 8 months in process from the day the offer was submitted until the day that my purchase was finalized. Once I closed, it took me 6 weeks to rehab and then we put it live on the market. It sold within 2 weeks.

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

I am a realtor and I believe on what I work on!

How did you finance this deal?

Conventional financing

How did you add value to the deal?

I added full interior paint, changed all baseboards, remodeled kitchen.

Lessons learned? Challenges?

I should've kept it as a rental for 2+ years in order to avoid paying capital gains.

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

I am a real estate agent and so is my husband. We are active members of the Orlando Regional Association of Realtors. I used Bank of England for my financing.