Our first flip, and first learning experience.

[Christine Coutu]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $71,000
Cash invested: $73,000
Sale price: $182,000

This was our first flip. It was a learning experience. It needed everything! We think it turned out pretty nice! Our buyers thought so too.

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

The price point, the area where it was located, and we could see the potential it had.

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

we have an agent that we work with that had many years of investing under his belt.

How did you finance this deal?

we borrowed from our existing company, and brought in a financial partner.

What was the outcome?

considering this was our first flip I think we made out quite well. The other benefit is that neighborhood is now one house better.

Lessons learned? Challenges?

The importance of a good team, permits, the process involved, Some tricks of the trade, and mush more.

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

yes