Landing a fix and flip deal

[Louis Davis]

Investment Info:

Single-family residence fix & flip investment in Las Vegas.

Purchase price: $185,000
Cash invested: $45,000

This is ranch property that we acquired for a fix and flip. We will put about $45k into renovations into property and try to sell it for the full value of $385k.

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

The spread made me interested in this deal. A lot of people were afraid of the rehab but with those spreads, we can take it on.

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

I found the deal on an investment website and negotiated it by phone first than in person at the walk-through

How did you finance this deal?

We financed this deal with our hard money lender

How did you add value to the deal?

Because the property is already in bad shape, we will bring value to it by rehabbing it and bringing it back to code.

What was the outcome?

Still in the middle of working on it....

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

No. This was an owner to owner transaction.