1430 Winding Way Dr 37188 Flip

[Courtney McCoy]

Investment Info:

Single-family residence fix & flip investment in White House.

Purchase price: $133,500
Cash invested: $36,000

House is sitting on 2.9 acres. Approx $47k in cosmetic repairs - adding 800sf in basement, reverting garage area back into a garage (getting rid of patio doors and putting in garage door and opener), new roof, new gutters, new appliances, redo master bath and hall bath, paint cabinets and put handles on them (none are there presently), building out a laundry room area in basement. ETA 5 weeks renovation time starting February 15, 2019.

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

Wanted to buy something to get some skin in the game! This is my first flip!

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

Real Estate Agent found the deal for me

How did you finance this deal?

Hard Money via Longhorn Investment (3pts, 1.6% origination fees, 1.6% closing costs, 12% interest only - 1%/month). Offering 3% commission for my agent, 2.5% for buyers agent on the sale (5.5% total).

How did you add value to the deal?

Added 800sf of living space in unfinished basement. Added garage (most homes nearby do not have garages)

What was the outcome?

Work in progress - to be updated soon!

Lessons learned? Challenges?

I will post some as they arise.