4bd 2bath Flip in Kearsley schools

[Lon Coleman]

Investment Info:

Single-family residence fix & flip investment in Flint.

Purchase price: $27,500
Cash invested: $30,000

Fix and Flip in Kearsley. Family was desperate to move, house is in rough shape. Got inspection, and rehab quotes prior to purchase.

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

3 different realtor friends are telling me that the house would sell quickly at $100k. So profit looked too good to pass up.

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

Talked to some ladies at the bar, one happened to be a broker... 2 weeks later I bought the house.

How did you finance this deal?

I took a HELOC on my primary residence. It was a cash purchase.

How did you add value to the deal?

Full rehab

What was the outcome?

N/A

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

The Brokaw Group was the realtor and the contractor was Progressive Builders.