Wedding Money Invested Before Getting Married- Second Fix & Flip

[Chris Lawrence]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $130,000

Cash invested: $71,000

Sale price: $230,000

Purchased a fix and flip through a wholesaler. I learned so much valuable information that I'm applying to my current flipping/rental business now. I was able to make an 8k profit after all expenses paid. After looking at the deal and how much risk, it wasn't worth it from a numbers/profit/time perspective. However, the lessons I learned will help me in my flipping business for a life time and I wouldn't change a thing about this flip.

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

Really enjoy flipping houses

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

I negotiated with a wholesaler.

How did you finance this deal?

Private Investors and Wedding Money!

How did you add value to the deal?

Rehabbed the entire house from exterior to interior.

What was the outcome?

8k profit and lots of lessons learned.

Lessons learned? Challenges?

Finalize numbers with a contractor before starting the work. Understand higher price houses could take longer to flip, which could end up costing more in holding costs. Never put your wedding money into the deal if you have to get married 5 months after purchasing a flip. Luckily I closed the day of my rehearsal dinner!!! Thank GOD