Jasper dr, First investment after looking for 1 year.

[August Olgren]

Investment Info:

Single-family residence fix & flip investment in Colorado Springs.

Purchase price: $160,000
Cash invested: $40,000
Sale price: $236,000

3/1 sfr new roof, driveway, windows , fence and full interior remodel, after cost of money and realtor fees, net profit of 8k

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

Looked at return of loosing 5k or making 15k. Driveway was an expense not calculated in up front costs.

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

Found on mls, made offer site unseen.

How did you finance this deal?

Hard money, 3 points, 11% apr, financed 100% of rehab.

How did you add value to the deal?

Put 10% down plus extra rehab costs
Did most work myself. Offer was accepted because I could close quickly.

What was the outcome?

Profit of 8k

Lessons learned? Challenges?

More due diligence on rehab costs. Should have seen driveway issues.

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

Worked with newer agent.

[August Olgren]

@Clifford Paul thank you. We agreed that if I didnt lose anything on the first deal, I would do it again.