We are in our First Flip!

[John Cantey]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $213,000

SFH. Distressed situation. We found this deal on the MLS with a realtor who is familiar with investors. Great house just needs normal updates. Great inspection. We close on the 25th, then game on!

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

Simple fix with good capital gains (appears that way from this side)

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

MLS. Saw the posting and was in the house by lunchtime. Offer made in cash with in 2 hours. Signed couple of days later after negotiations. They wanted lease back but fast close made them decide to move on.

How did you finance this deal?

Cas with an investor partner.

How did you add value to the deal?

We are landscaping, painting, updating floors and fix. Basic.

What was the outcome?

Pending

Lessons learned? Challenges?

As a first deal we are learning were we all fit and what process and systems are needed.

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

Jeremy Smith. The Smith Team