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Updated almost 6 years ago,
Rosedale Flip Investment
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $289,000
Cash invested: $300,000
Sale price: $700,000
I purchased this 912 square foot ranch style home, after living in the home for two years I demolished the home to foundation and rebuilt modern while incorporating architectural design elements of the area to create a congruent and updated property. Following the AIA modern home tour I received multiple offers at/above asking price.
What made you interested in investing in this type of deal?
This was my first time investing/flipping, I wanted to learn from the process to better guide future interests.
How did you find this deal and how did you negotiate it?
I found the property myself, negotiated the agent rate to 1%, negotiated the architectural and design consultant fees, and self-GC'd the project.
How did you finance this deal?
Cash on improvements, traditional lending on mortgage
How did you add value to the deal?
Promoting through the AIA Modern Home Tour
What was the outcome?
Limited profitability, time financial and learning objectives were met.