No Money out of Pocket for Very Profitable Fix & Flip!

[Troy Nonnemacher]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $100,000
Cash invested: $79,000
Sale price: $265,000

Great use of owner Holding house and investing 50% of Rehab!

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

I am familiar with this type of strategy and the numbers looked great!

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

This was a referral from someone who we had done some renovation work for! Then she became an investor in the project!! Super way to show the power of Real Estate!!

How did you finance this deal?

Owner of the property held the cost of the house and put up 50% or renovation budget! The person who referred us to this seller then agreed to put up the remaining 50% of the Renovation budget!

How did you add value to the deal?

We completely renovated interior and added a Master suite in the upstairs portion of the Cape Cod!

What was the outcome?

Fantastic!! Property sold right around asking price and we were able to make a great profit with no money out of pocket! The Power of Real Estate!

Lessons learned? Challenges?

Really investigate water issues when evaluating a property. This property was so full of junk and we thought there was a plumbing leak causing the wet basement but it turned out to be leaking through the foundation. It did not really hurt us but could have saved a lot of stress if we had figured it out in the initial evaluation!

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

We typically work with a Real Estate agent if we are not selling an investment property!