My first flipping experience

[Mario Trillanes]

Investment Info:

Single-family residence fix & flip investment in El Paso.

Purchase price: $86,500
Cash invested: $31,000
Sale price: $154,000

This 1800 sq ft home was wholesaled to me by a couple of other investors, My real estate agent found me the deal and based on the comparative market analysis we thought we'd be ok. Even though I was able to take out a decent profit out of the property I grossly underestimated the rehab costs. The roof and kitchen were totally refurbished and windows were replaced.

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

It was my first Fix and Flip and I like the area for this strategy

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

My Real Estate Agent got me the deal

How did you finance this deal?

Borrowed against a CD

What was the outcome?

Fair

Lessons learned? Challenges?

Once you have momentum, Don't stop! Take the lessons you've learned and go on to the next project without levering too much

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

Yolanda Sifuentes, Real Estate Agent made the process much smoother than it could of been. She is a great Real Estate Agent and partner to have.