1102 Plum St Fix and Flip

[Lance A White]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $82,000
Cash invested: $2,200
Sale price: $114,750

Purchased this as part of a portfolio, rented it for a year and then sold it.

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

Previous tenant was a contractor and fixed this house up. All we had to do was paint the main floor and patch in some carpet in one of the bedrooms.

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

A financial advisor sent me this deal

How did you finance this deal?

Seller financed 100%. We rented it for a year and it cash flowed about $320/month.

How did you add value to the deal?

Just painted.

What was the outcome?

Great

Lessons learned? Challenges?

Pretty smooth deal

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

Amy Pfingsten of Red Door Realty. Empire painting.