7 Briarcliff Ln. Flip

[Timothy Lewman]

Investment Info:

Single-family residence fix & flip investment in Holden.

Purchase price: $218,500
Cash invested: $38,775

Flip is almost done, down to punchlist items, 1st open house is the coming weekend!

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

Cosmetic flip, great town bordering on Worcester MA which is currently experiencing tremendous growth.

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

REO on the MLS, negotiated via my agent.

How did you finance this deal?

Hard money. Learned my 1st lesson as we got gouged on upfront fees. Already have a new lender for next project.

How did you add value to the deal?

New kitchen and 2 new baths. Master bath had 3/4 wall, we re-framed to completely close it off.

Lessons learned? Challenges?

Will let you know! Challenges was waiting for plumber and electrician, could have been done 2 weeks ago.

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

Daniel Greenberger for Worcester and Middlesex counties.