Commercial Flip of Historic Building

[Peter Wade]

Investment Info:

Retail fix & flip investment.

Purchase price: $2,000
Cash invested: $500
Sale price: $10,000

Main st building, former town newspaper and post office building with historic charm. Suitable for 1st floor retail.

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

good price and location

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

kept offering a lower price each time, owner knew there was no other interest it and couldn't afford to keep paying taxes on it

How did you finance this deal?

paid cash

How did you add value to the deal?

Held the mortgage

What was the outcome?

Earned interest above purchase price

Lessons learned? Challenges?

Sometimes the right place at the right time is all it takes

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

No