1183 NW 26 ST, MIAMI, FL 33127 | NET PROFIT OVER $200,000

[Jean Paul Castellanos]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $99,800
Cash invested: $150,000

Purchase Price: $99,800 + $3200 Closing cost = $103,000

Rehab: $50,000

ARV: $250,000

Description: The property is 10,000 SqFt, has a 3/1 SFH, located in a fast growing area in Miami.

Even though just the fix-and-flip nets near $100,000, the property is being split into two separate lots, leaving me with a vacant 5000 SqFt lot which sells for $120,000.

Total Investment: $150,000

Total Net Profit: $205,000

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

Profitability

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

Several weeks of nonstop door-knocking.

How did you finance this deal?

Cash. I Brought a partner to the deal.

How did you add value to the deal?

Full interior rehab.

What was the outcome?

Great experience and great profits netting over $200,000.

Lessons learned? Challenges?

Consistency is everything. It was after hundreds of doors knocked and rejections until I found this hidden gem.

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

I am an Investor & Licensed Real Estate Agent, I work together with clients who want to invest and search for deals like this all over Miami.