45 Day Flip at $5K Over Asking!

[Vince Russell]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $92,200

Cash invested: $13,500

Sale price: $140,000

Our Haltom City, Texas flip. From purchase to close, 45 days.

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

Google Ad.

How did you finance this deal?

Bank for 90% of loan + 10% from private investor.

How did you add value to the deal?

Added central air/heat, granite, carpet, vinyl floors, and stove.

What was the outcome?

We received a $5k over asking offer on day 1 and the house appraised at value.

Lessons learned? Challenges?

Going all out on flips isn't alway necessary. See what appraisers give value to, do that, and whatever else you feel a buyer may want that's within reason to still make a nice profit.