Loris house with land flip - possible subdivide.

[Pete Schmidt]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $32,500
Cash invested: $32,500

Purchased a 890 sqft home 2/1 on 2.5 acres. Adding a bed and bathroom to it in the 320 sqft addition. Complete gut remodel. Survey complete with property lines to divide the lot.
Option 1- will be to offer all 2.5 acres to purchaser of home for additional cost.
Option 2- If buyer does not want all 2.5 acres, subdivide property and sell .9 acre with this home and use rest of the land to put 2 more houses on it and sell those.

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

Good area, great price

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

Found on FB and worked deal with owner directly.

How did you finance this deal?

Cash

How did you add value to the deal?

Complete gut remodel with the addition of 320 sqft (added 1 bedroom and 1 bath) bringing it to a 3/2

What was the outcome?

Still working on it.