Single family residence

[Jeffrey Carr]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $215,000
Cash invested: $15,000
Sale price: $278,000

I bought this house with traditional funding, this was located in Gustine, Ca.. it’s condition was in the 1970’s and was hardly touched, I put two months of work into it and flipped.. looking for hard money lenders to do similar deals in Ohio.

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

The condition was poor and I saw money to be made

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

I found through a local real estate agent and bought as is.

How did you finance this deal?

Traditional

How did you add value to the deal?

Renovation

What was the outcome?

$62,000 profit after I paid the real estate agent

Lessons learned? Challenges?

Buy in hotter areas

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

Yes