My First Fix & Flip!

[Kirk Frickey]

Investment Info:

Single-family residence fix & flip investment in Marrero.

Purchase price: $87,500
Cash invested: $25,000
Sale price: $163,599

This house was bought with an owner occupied loan. While living in the house I did the rehab myself. Lots of sweat equity!

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

The financial & personal freedom is what really got me interested in Fix & Flips.

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

I found this deal through a family member. Not much negotiating was needed since the sale price gave me so much equity as it was.

How did you finance this deal?

I used a Rural Development loan to find this deal

How did you add value to the deal?

Value was added to this deal by doing a full rehab from floor to ceiling

What was the outcome?

The outcome of this was a great paycheck, many trades learned, and the motivation to make this a career.

Lessons learned? Challenges?

The main lesson i learned was patience.

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

All work was done by myself.