First flip 👍🏻💥 reviewed!

[Jared Emerick]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $60,000

First flip!
Smelled like money 🐈
7 week flip, longer sale and close.

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

Great established neighborhood with recent comps. Not a major undertaking but still a big job. Margins were good.

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

Bought from wholesaler.

How did you finance this deal?

Private money. 2 points 10%

How did you add value to the deal?

New floors, gutted and updated bath upstairs, added huge bathroom downstairs, 300 sf finished basement, completely new custom cabinet kitchen, granite. Converted from a 4-1 to a 3-2.

What was the outcome?

Learned a lot and made some 💰. Established good relationships with contractors.

Lessons learned? Challenges?

Punchlist took longer than expected. Thought I'd be done in 1 week for 3 weeks.
Do less work personally and just hire it out.

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

Yes and just ask and I will