1st Fix & Flip in Tampa, FL

[Carmelito Sanga]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $135,000

Reviving a 1955 home in Seminole Heights. It's a 3 bed, 2 bath, 1405 SqFt, SFR.

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

Area is showing growth and it's centrally located.

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

This property was listed in MLS for $150k but we were able to negotiate it for lower as a cash purchase with no inspections.

How did you finance this deal?

We purchased it cash but using a line of credit with a commercial lender to fund the rehab.

How did you add value to the deal?

Total rehab...new roof/windows/ floors, open up the kitchen and living and dining. Also added a full bath.

Lessons learned? Challenges?

Rehab was delayed because we didn't have funding established and we weren't partnered with a contractor.