Successful First Fix n Flip Investment

[Dan Pettit]

Investment Info:

Single-family residence fix & flip investment in Clarksville.

Purchase price: $69,000
Cash invested: $1,000
Sale price: $124,900

Rehabbed a home that we lived in for a short time and flipped for enough to completely pay off my student loans.

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

Found the deal from an investor that I met at a local meetup.

How did you finance this deal?

This was a "subject to" loan assumption.

How did you add value to the deal?

Complete rehab

What was the outcome?

Profited enough to pay off my student loans.

Lessons learned? Challenges?

Do not depend on contractors; if you can do the work yourself, elbow grease pays off exponentially.

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

I am a licensed Realtor.