Added a second floor to a ranch home

[Kevin M Finley]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $72,000
Cash invested: $83,600
Sale price: $225,000

The biggest transformation yet! This 2 bed 1 bath 1136 sq. ft ranch home was in desperate need of updating, but we took it one step further and added a full second floor with a massive master suite. What's better? This home sold in one day!

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

Great location

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

Wholesaler

How did you finance this deal?

Credit line/ private money

What was the outcome?

Profit and a 1 day sale

Lessons learned? Challenges?

Despite having a repair escrow, you need working capital.