The yellow door flip in Memphis TN

[Dustie Zvolanek]

Investment Info:

Single-family residence fix & flip investment in Memphis.

Purchase price: $205,775
Cash invested: $125,000
Sale price: $450,000

This was a one owner home in East Memphis that was very dated but well maintained. The home mainly needed cosmetic updates.

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

The location and size of the home plus I love one owner homes so that just added to my interest.

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

I found the deal on the MLS and negotiated it with the listing agent.

How did you add value to the deal?

I added value by converting the walk in attic to a bonus room and a storage room in the attached garage I converted to a mud and laundry room. I also virtually staged the home with professional photos.

What was the outcome?

The outcome was a bit slow at first but after 50 days on the market we had multiple offers and sold over list price.

Lessons learned? Challenges?

One of the main challenges was timing of course.

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

I am an agent and of course would recommend working with my team :)