Flip House in McAllen Texas

[Boone Tyson]

Investment Info:

Single-family residence fix & flip investment in Mcallen.

Purchase price: $100,000
Cash invested: $2,500
Sale price: $120,000

Purchased this house and immediately found a buyer for it in as is condition. Our only expenses were the closing costs

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

Location, didn't need much work, and was in a hot time of the year.

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

Offered what we felt like the sellers wanted and they took it.

How did you finance this deal?

Line of credit

How did you add value to the deal?

We did't add any value.

What was the outcome?

Found a buyer who wanted it in as is condition for a rental and sold it right after we purchased it.

Lessons learned? Challenges?

If we would've done the work on it and sold it, we probably would've made another 10K because the market jumped right after we sold it. But you can't time the market all the time and its hard to pass up a 12% ROI with no work.

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

none