Updated over 6 years ago on .
170 S. Porter Drive Made Our Investor $5K in 5 Months!
Investment Info:
Single-family residence fix & flip investment in Waukesha.
Purchase price: $134,731
Cash invested: $30,000
Sale price: $237,000
The investor on this property made 9% interest in 5 months, or $1,010.48 per month and $5,052 for the entire investment period. This home was flipped in 5 months. We updated the kitchen, bathroom and created living space in the basement. This was a great project that made the company and the investor good money in a short period of time!
What made you interested in investing in this type of deal?
I checked the areas comparables and knew their was equity in the home, it just needed to shine on the MLS as a great opportunity for a FTHB!
How did you find this deal and how did you negotiate it?
Sheriffs Sale, bid $1 more than the bank.
How did you finance this deal?
The company put 10% down then I offered the deal to one of my investors.
How did you add value to the deal?
My investor made a good chunk of change and the new home owners received a great home for a fair price.
What was the outcome?
The home was only on the market for 12 days before it sold. The investor made money and so did the company.
Lessons learned? Challenges?
We had to help the previous owners move out before we could begin working on the project. I enjoy helping others but it did cut into the rehab time.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Nicole Bruckner at Premier Point Realty, she sells our flips and always gets the best price for every property.
