First Solo Project

[Tyler Bushey]

Investment Info:

Single-family residence fix & flip investment in Biddeford.

Purchase price: $140,000
Cash invested: $8,500
Sale price: $227,250

Dated Cape style home, should be a quick 4 week cosmetic rehab. Found through driving for dollars, mailed a letter and got lucky!

Final renovation cost was $15k

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

In my opinion, a flip was the next step in my "investing career." It's something ive wanted to do for a long time and the timing was right.

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

Driving for dollars, directly with homeowner

How did you finance this deal?

Hard money lender

How did you add value to the deal?

Gutted the bathroom, sanded the wood floors, tiled kitchen floor and new carpet upstairs. Painted interior.

What was the outcome?

Got an offer 3 hours after the open house and accepted the next morning.

Lessons learned? Challenges?

I learned a ton, mostly that I am more competent in managing the project than expected.