Fix & Flip Investment with great ARV

[Kristine McCreary-Williams]

Investment Info:

Single-family residence fix & flip investment in Salisbury.

Purchase price: $61,000
Cash invested: $40,000
Sale price: $162,000

Bank owned property purchased and rehabbed. Sold in only 5 days on the market

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

The challenge of the entire home. It was in really bad shape but in a great neighborhood and schools

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

Found on the MLS. Negotiated with the bank and their agent.

How did you finance this deal?

Paid cash.

How did you add value to the deal?

Increased value with the updates

What was the outcome?

$50,000 profit after completed and sold in 5 days

Lessons learned? Challenges?

Reiterated that the worse the condition, the better the outcome!

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

Acted as my own agent on this deal