Updated almost 7 years ago on . Most recent reply
Resler Flip El Paso Tx 79912
Investment Info:
Single-family residence fix & flip investment in El Paso.
Purchase price: $92,000
Cash invested: $15,000
Sale price: $160,000
SFH flipped and sold for profit.
How did you find this deal and how did you negotiate it?
purchased from a wholesaler
How did you finance this deal?
Hard Money + Private Money Lenders
How did you add value to the deal?
full rehab
What was the outcome?
learned not to pay contractors before the job is 100% done. #lineitembids
Lessons learned? Challenges?
Partnered with a young but confident contractor as my project manager. Massive mistake. ended up as 5 months behind schedule in the end.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Blake Hitchcock is an amazing El Paso realtor.
Sabin Marquez is a great hard money lender in Texas
Most Popular Reply
@Chad Dougherty I’m glad you ended up being profitable, plus learned a lot - a bad deal can kill the inspirations of an investor.