Very proud of this rehab project!

[Scott Welker]

Investment Info:

Single-family residence fix & flip investment in Saint Louis.

Purchase price: $48,000
Cash invested: $60,000
Sale price: $164,900

Complete gut rehab. Everything new on inside and outside.

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

The neighborhood. It's in Dogtown, very hot neighborhood right now.

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

MLS. Three Doors Investments were the owners. Got to know them and liked their organization. Now I'm a member of Three Doors and highly recommend them.

How did you finance this deal?

personal cash.

How did you add value to the deal?

Gutted then completely rehabbed the entire house. Completely new kitchen, bath, high efficiency HVAC, new water heater, everything freshly painted, re-finished existing hardwoods. On the Exterior: New roof and siding on house and garage, house received all new windows and exterior doors.

What was the outcome?

Our business motto is "Quality and Integrity". We were very proud to rehab this dilapitaded house into a very beautiful home for a new family.

Lessons learned? Challenges?

The biggest challenges were dealing with a couple contractors. One guy, took off after he was paid upfront (never do that again). Another contractor started strong with timelines and quality, then slacked off and quality went down (took to long to fire this guy).

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

Real estate professional was Three Doors Investments.
Real estate agent was Kevin Rotter.
I recommend both.