Little Farm in Okeechobee

[Andre Freitas]

Investment Info:

Single-family residence fix & flip investment in Okeechobee.

Purchase price: $75,000
Cash invested: $55,000
Sale price: $210,000

Fix and Flip of a Farm like property of 4.1 acres 10mins outside Okeechobee. Property was uninhabited for 3 years. Full rehab. New appliances, new HVAC, new fixtures. Landscaping was a challenge.

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

Low purchase price.

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

Through our local real estate agent partner who brought us the deal.

How did you finance this deal?

Private hard money loan. Too expensive.

How did you add value to the deal?

Rehab. Simple and effective. New kitchen, new floors, new hvac, new appliances. Good quality but in accordance with the area.

What was the outcome?

Good profit, but we took to long to start.

Lessons learned? Challenges?

Landscaping in farm properties is a drag. Fix and Flip have to happen fast to make good money. Private hard money is too expensive.