My first flip in Bellmawr

[Janine Blunt]

Investment Info:

Single-family residence fix & flip investment in Bellmawr.

Purchase price: $80,000
Cash invested: $130,000
Sale price: $180,000

217 S Lowell Ave, Bellmawr, NJ 08031 is a single family home built in 1970. This property was last sold for $180,000 in 2016. This charming turnkey home features a beautiful brick face, is well maintained & fully completely rehabbed in January 2016. This Cape Cod has beautiful windows for plenty of natural light in addition to recessed lighting. Breath-taking beautiful original hard wood flooring throughout leading into Kitchen with all new appliances granite counter tops/back splash.

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

This was my first deal. It was an easy purchase from a wholesaler, so all the work was done-great comps and a clear title.

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

I found my wholesaler from a 'we buy houses' sign that my partner had posted.

How did you finance this deal?

Private money(family member)

How did you add value to the deal?

I trained with Fortune Builders, which allowed me to hit the ground running, so I felt like I knew what I was doing. I was also well supported by a coach and training materials.

What was the outcome?

The rehab was very successful. I lucked out and found a great GC who was honest, and did everything, I asked, and even pointed out things that I'd missed.

Lessons learned? Challenges?

I learned not to turn the water on without your contractor or plumber on hand!! I had called the water company, and the came out, and of course, turned on the water. Water started just leaking everywhere from pipes in the basement. Then next thing I knew, I had a minor flood!! And worse, I didn't discover this, until hours later, because I was upstairs when they came. Sad lesson, but I'll never do it again.