Bonus Bath hidden in the basement

[Levi Klein]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $217,000
Cash invested: $38,193
Sale price: $339,000

This place was nasty. We went through top to bottom added a bath and finished off the unfinished basement.When we went through the house before purchase we noticed a duct taped toilet flange in the concrete slab that was still set up from the original pressure test. also a stub out for the lavatory sink. THis was all hidden under the makeshift bed (Closet door frame with mattress on top) in the picture. It was a super simple add a half bath. Hauled 45yds of trash out of this house

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

Saw an opportunity for an easy value add

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

MLS offered low on day 1 and they countered. $18k under list in a hot market on day one.

How did you finance this deal?

We paid cash from our saving and HELOC on our primary

How did you add value to the deal?

Added a half bath and finished the basement

What was the outcome?

We made $80k and some lucky buyer got a great house.

Lessons learned? Challenges?

Talking to the neighbors can help you to find the sellers motivation.