Quick little flip where I owned the house for an hour

[Tai DeSa]

Investment Info:

Single-family residence fix & flip investment in Allentown.

Purchase price: $45,000
Cash invested: $1
Sale price: $53,000

I saw the house listed on the MLS originally for $95,000. It was lowered to $60,000. I viewed the property and made an offer for $45,000, which was accepted. Before buying the property, I showed the house to an agent and his flipper client. The flipper agreed to buy it from me for $53,000. I owned the property for about an hour. It was a quick little deal. The flipper sold the property later that year for $83,000.

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

I saw it on the MLS. I made an offer for $45,000, and the seller accepted it.

How did you finance this deal?

I had the cash and owned the house for about an hour.

How did you add value to the deal?

I bought it for $45,000 from someone who had lived there and who had paid $23,000 for the house when they bought it. I sold it an hour later to a flipper for $53,000. The flipper fixed it up and sold it later that year for $83,000.