My first real estate deal

[Cris Coria]

Investment Info:

Single-family residence fix & flip investment in Gresham.

Purchase price: $174,000
Cash invested: $10,000
Sale price: $244,000

I bought this single family home and moved in some of my friends to cover the mortgage while I fixed it up. Once the rehab was done and I reached the 2 year primary residence rule I began looking for a new deal that I am currently finishing up

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

Since it was my first one it was an easy introduction to fix and flip.

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

Realtor was sending me listings and this one had popped up a few times because all the other offers were falling through

How did you finance this deal?

Conventional financing

How did you add value to the deal?

Small interior upgrades and exterior facelift

What was the outcome?

Made a good profit that I was able to bring over to the next deal to help with renovations

Lessons learned? Challenges?

Don’t stop working on projects. You might be tired after work but if you’re tired today then you’ll be tired tomorrow and the projects will never get done.

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

Ken Cahill was my realtor in the deal and I would definitely recommend him