Fix and Flip- 2563 65th Ave S, St Petersburg FL

[David Rhodes]

Investment Info:

Single-family residence fix & flip investment in St Petersburg.

Purchase price: $145,400
Cash invested: $50,000
Sale price: $258,000

We purchased this home on the county foreclosure auction. Purchase $145,400 Holding cost and rehab $50,035 Total all in: $195,435. It sold for over the asking $258,000.

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

We invest in flips to make our living money.

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

County Auction

How did you finance this deal?

Private

How did you add value to the deal?

Did a very nice rehab. Helping the community and the new owners.

What was the outcome?

We help the community, sold a family a nice home and made a Profit.

Lessons learned? Challenges?

I had never had a Terrazzo floor refinished. I learned that some of the stains are just not coming out and they give the floor character.

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

My agent Nicole Rhodes sold the property in one day. Limelight Home staging did the staging. Arnold Novak took the pictures.