Bought and sold in the same day
Investment Info:
Single-family residence fix & flip investment in Pocono Summit.
Purchase price: $65,000
Cash invested: $1
Sale price: $90,000
The vacant house had frozen pipes and bowed wood floors. My business partners and I offered $65,000 cash. The seller agreed. We found a flipper who was willing to pay $90,000. We owned the house for about half a day. This deal was one of my first 10 deals. It was a good one. I still work with that flipper today.
What was the outcome?
The flipper bought it for $90,000 from me. I helped put him into a $215,000 lease purchase sale. After four years, that sale didn't work out. I sold the house for him for $130,000.
