Colonial Acres Flip in Memphis TN

[Dustie Zvolanek]

Investment Info:

Single-family residence fix & flip investment in Memphis.

Purchase price: $115,000

Cash invested: $30,000

Sale price: $164,000

Great single family home in East Memphis, TN. This home is in a residential area of Memphis' subdivision of Colonial Acres. The home featured three bedrooms, two baths, formal living and dining room, den, breakfast area, and a large backyard.

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

The location and size of the home.

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

Wholesaler

How did you add value to the deal?

Rehabbing it and virtual staging.

What was the outcome?

It sold :)

Lessons learned? Challenges?

That location and size doesn't always set the price. I think we needed to replace the kitchen cabinets and spend more on opening the kitchen to the den.

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

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