First Sub-To flip in the lower valley

[Chad Dougherty]

Investment Info:

Single-family residence fix & flip investment in El Paso.

Purchase price: $77,000
Cash invested: $13,000

First sub-to Flip. Should take a week to repair and slap on the market.

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

Zero down, no financing required. Simply took over the note.

How did you finance this deal?

Subject to exisitng financing.

How did you add value to the deal?

Finished the project that the seller had started.

Lessons learned? Challenges?

Sun to is cool for flips, and when you find good contractors, you take damn good care of them!

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

Allison Tipton out of San Antonio as our closing attorney.