Rental became a Flip

[Trena Daignault]

Investment Info:

Single-family residence fix & flip investment in Fayetteville.

Purchase price: $39,000
Cash invested: $45,000

Brick ranch 3 BR 1.5BA converted to 2BA, updated interior and exterior.

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

Originally wanted to hold this one as rental but ended up with too much invested and decided to sell

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

I was contacted because they did not have money to update or make ready to sell.

How did you finance this deal?

cash

How did you add value to the deal?

Converted half bath to full bath.
Added vinyl siding, windows, new flooring, lighting, tile, doors/hardware, cabinets, etc. Total rehab.

What was the outcome?

Under contract for $115,000

Lessons learned? Challenges?

Challenge for me is connecting with the right contractors so I (or clients) receive good work at a decent price.
Lesson on this one is no matter how long you've worked with someone, get it in writing.

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

Yes, myself as a real estate agent.