First deal done - condo fix and flip!

[Jay Groleau]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $139,000
Cash invested: $72,500
Sale price: $232,000

This was a condo that had been on the market for a while. It was a hoarder situation, and I was able to negotiate to a number that made sense. I used hard money to finance the purchase as well as the rehab. I borrowed the down payment as well. I paid a very high interest rate on the hard money as well as the down payment, but the numbers still worked and I made a profit.