Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 5 years ago,

User Stats

6
Posts
2
Votes
Shayne Stuart Dawe
2
Votes |
6
Posts

First Investment Fix and Flip

Posted

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $140,000
Cash invested: $3,500
Sale price: $189,500

This is an old victorian farmhouse on a bluff overlooking Lake Michigan. I lived in it and had renters while I was working on it. Since I was working full time on an oil rig out of state I only worked on it when I was home.

This was a relatively easy flip that included major cleanup, refuse removal, replacement of rotted wood around windows, eaves, siding, and porches. The roof required a tear off, repair, and replacement. Cosmetically it required a facelift with paint inside and out.

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

I was working full time on an oil rig out of state but wanted something to do with my time and money. So I invested in this house to live in it, have room renters to cover the mortgage, and work on it when I was home.

What was the outcome?

The house paid for itself with the renters and a place for me to live. Plus I made a profit.

Loading replies...