Myrtle Beach West Oak Flood Flip

[Pete Schmidt]

Investment Info:

Single-family residence fix & flip investment in Myrtle Beach.

Purchase price: $100,000
Cash invested: $40,000
Sale price: $187,000

Purchased flooded property for $100k. Owner held the note. I partnered with BP member Chris who provided all funds ($40,000) and I rehabbed it with my crew in just over 1 month. Sold it for $187,000. We split the profit.

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

One of my employees sent me a pic of a FSBO sign.

How did you finance this deal?

Owner held the note. BP member funded it.

How did you add value to the deal?

Complete rebuild.

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

Yana Lynch