The buy and flip project that turned into a buy and hold

[Nickolas Quartez]

Investment Info:

Single-family residence buy & hold investment in N Fort Myers.

Purchase price: $90,000
Cash invested: $10,000

Single Family Residence

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

I had to do a 1031 exchange and this was really the best option out there with the knowledge I had at that time

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

I found it on the MLS and dropped the price with 20k

How did you finance this deal?

cash

How did you add value to the deal?

Ability to close quickly without inspection

What was the outcome?

I think I had a good deal

Lessons learned? Challenges?

Challenge: Learning to be Bob the builder and learning that construction is a lot easier than expected.

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

No.