Nashville -- Historic Richland gem

[Account Closed]

Investment Info:

Single-family residence fix & flip investment in Nashville.

Purchase price: $178,200
Cash invested: $104,000
Sale price: $399,840

To-the-studs. Re-brick, roof, all mechanical systems.

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

Richland, the best neighborhood in the city

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

MLS

How did you finance this deal?

Construction loan, converted to conventional upon completion

How did you add value to the deal?

To-the-studs rehab. Re-brick and extensive concrete work. All mechanical systems. Premium fixtures.

What was the outcome?

Profitable

Lessons learned? Challenges?

Just throw away the old/existing trim-- replace the window and door casings. Also, label each door that comes off because they are very specific in older homes.

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

Mark E. Storolis