South Second Street Flip

[Lance A White]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $39,320
Cash invested: $1
Sale price: $77,500

Sold to another investor who is going to use it as an Air B&B.

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

It was part of a portfolio we purchased.

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

It was brought to us by a wholesaler and we bought it as part of a portfolio.

How did you finance this deal?

Cash

How did you add value to the deal?

Complete renovation including new kitchen, bathroom, flooring paint, fixtures and added laundry hookup.

What was the outcome?

Sold it to another investor and made a nice profit on it.

Lessons learned? Challenges?

This one was straight forward, but make sure you use a realtor who has a marketing system, not someone who just lists it and forgets it.

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

Brock Owens of the Derek Kats Keller Williams team.