JV Fix and Flip to Finish 2018

[Chris Evans]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $90,000
Cash invested: $60,000
Sale price: $220,000

This was a JV project. I found the house and was negotiating some seller financing, but still trying to figure out how to fund the rehab. A local restaurant owner and acquaintance approached me while I was picking up some dinner. He had seen some FB posts of mine, and said, "I want to work with you!" Long story short, he funded the entire project, purchase and rehab, and we split the profits. The house was listed during a slow time of year (Christmas), but was on the market barely over a month.

How did you finance this deal?

JV. A local restaurant owner funded the entire project, I handled day to day operations (hired and monitored contractors, yard maintenance, holding costs, etc...). We split the profit.

What was the outcome?

SUCCESS! We split a hefty profit after agent fees and closing costs.