Rental, Remodel and Sell

[Benito Loyola]

Investment Info:

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

Purchase price: $110,000
Cash invested: $39,594
Sale price: $182,400

Had home with an Equity Line balance. Rented out for several years. This year fully remodeled with everything new high end. Ended getting premium offers for it.

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

Got over renting and wanted to get my money out of the house. Ended up doing a full remodel project on it.

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

Original owner

How did you finance this deal?

Bank

How did you add value to the deal?

Completely remodeled

What was the outcome?

Contract

Lessons learned? Challenges?

Want to do it again. Got great reviews from several agents on the great job we did to the house.

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

I used Redefy and negotiated a lower fixed price comparable to the lower sale price.