Asbury Park Fix & Flip

[Jane Orlando]

Investment Info:

Single-family residence fix & flip investment in Asbury Park.

This was my second fix and flip. Total renovation of an old home that someone chopped up into a two family rental. It was restored to a single family home.

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

I love Asbury Park and making the old homes new again.

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

I work as my own agent, so I negotiated the price to a realistic number. It took many months of back and forth, plus oil tank removal needed to be remedied before I purchased.

How did you finance this deal?

100% my own cash.

How did you add value to the deal?

We brought back the charm of the home and essentially made everything new. Added central A/C, added a full bathroom. Turned a second kitchen upstairs into a large en suite master bath.

What was the outcome?

I sold the property after receiving two offers. 100k selling price over anything else in the area.

Lessons learned? Challenges?

Originally planned on keeping it as a two family, but when walls came down, I knew it had to be restored to it's original purpose. With the two family in mind, I poured cement for multiple parking spaces. Would have skipped that and laid down grass instead. Unnecessary expense.