First Fix and Flip 2016

[Daniel Innarella]

Investment Info:

Single-family residence fix & flip investment in Endicott.

Purchase price: $44,000
Cash invested: $24,000
Sale price: $95,900

I purchased a SFR on short sale, and was able to secure a construction loan for the purchase and renovation of the home. Between closing costs, holding cost, and funds not covered by the loan I was out of pocket approximately $10K. Upon completion of the renovations I sold the property on a lease option contract for $95,900 collecting a $5,000 option fee and lease payments of $1,250/mth.