1st Fix and Flip Property!

[Chase Gibson]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $129,000
Cash invested: $26,000
Sale price: $199,900

4 bedroom, 2 bathroom, 2 car garage, 2021 sqf. This home needed a complete cosmetic remodel. We addressed the flooring, painting, cabinets, both bathrooms. I will upload more pictures soon as it is going on the market tomorrow 03/15/2019.

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

Saw too much equity in the property not to jump on it.

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

Craigslist. I inquired about a different property that the previous owner had for sale, but when it didn't work it he mentioned this one to me and it was a great deal.

How did you finance this deal?

Private funding.

How did you add value to the deal?

Complete cosmetic interior rehab, basic landscaping.

What was the outcome?

It is currently listed for sale on the MLS.

Lessons learned? Challenges?

To not approach a property undecided on if you want to rent it or flip it. Make up your mind one way or the other and proceed accordingly. This is not to say, don't have backup plans if plan A doesn't work out, but rather to keep your focus on plan A UNTIL it doesn't work out.