First Live in Flip in Richmond, VA

[Ben A Snyder]

Investment Info:

Single-family residence fix & flip investment in Richmond.

Purchase price: $195,000
Cash invested: $40,000
Sale price: $308,000

Installed new half bath, renovated kitchen and expanded into prior dining, added HVAC, refinished hardwoods, created positive drainage in the backyard, and improved landscaping in front and backyards.

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

Interest rates were super low and I was looking to invest with savings from first job.

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

I had a friend who lived in the area give me a heads up and found out the property was on and off the market a few times previously. The seller had just moved across county and was looking to get out so I offered $15k under listing and took it as is.

How did you finance this deal?

5% down with first time homebuyers loan.

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

Jesse Booth with Tattershall Real Estate

[Frank Geiger]

Congrats! That's a nice profit. I'm digging the American flag! Exterior looks good.