Mixed use building in Westwego Louisiana

[Jessie Redd]

Investment Info:

Retail fix & flip investment in Westwego.

Purchase price: $40,000
Cash invested: $20,000

Mixed use building that has a 1 Bedroom 1 Bath up stairs and retail space below. We will renovate the apartment and finish out the retail space leaving it a blank cancass for a buyer.

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

A realtor that brings me deals showed me several examples of similar flips that she had done.

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

A realtor that I used to do deals with brought it to me.

How did you finance this deal?

Private lender

How did you add value to the deal?

Paint exterior, renovate the upstairs, drywall the retail space, tile and paint the interior

Lessons learned? Challenges?

It had a tenant that took me a month to get out. I would hold some funds back from the seller until the buyer is out. This should incentivise the seller to get the tenant out quickly.

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

Yes. Realtor.