Long Island New York, Wholetail acquisition

[John McSherry]

Investment Info:

Single-family residence fix & flip investment in Levittown.

Purchase price: $345,000
Cash invested: $5,000
Sale price: $453,500

The property didn't need any major rehab, just legal work, permit correction and cleanup.

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

Understanding of local single family & mother/daughter market

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

Cold Calling

How did you finance this deal?

Cash

How did you add value to the deal?

By correcting all of legal and safety issues.

What was the outcome?

Quick sale

Lessons learned? Challenges?

I learned about local zoning and set back laws that have recently changed.

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

No