Gladstone Missouri Flip

[Brock Thomas]

Investment Info:

Single-family residence fix & flip investment in Gladstone.

Purchase price: $80,000
Cash invested: $24,600
Sale price: $135,000

This was a pretty quick and easy one. I thought about renting it but with the market conditions I decided to sell it. Most of my rentals look just like this and in a similar location so it wasn't an easy decision.

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

It is my target kind of rental property and I know the market well. I knew it would be easy to rent or sell. It was a solid home with no foundation issues.

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

A friend brought me this deal because he knew I was in the business. His father in law didn't want to put the house on the market and it needed some work. I knew I could rent or sell this one and come out good. It was a very straight forward, simple construction project. I sold it on the first day on the market. I probably could have gotten more but the buyer needed a 3 week closing and wrote a full price as is contract.

How did you finance this deal?

I paid cash.

How did you add value to the deal?

New kitchen cabinets, interior and exterior paint, removed over grown landscaping and put new LVT flooring in the bathroom.

What was the outcome?

A quick and easy $22,000 net profit.

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

I am a licensed agent.