Home Flipping with Real Estate Nate!

[Nate Nieland]

Investment Info:

Single-family residence fix & flip investment in Pittsburgh.

Purchase price: $80,000
Cash invested: $75,000
Sale price: $238,000

Total demo and remodel of entire inside, electrical, plumbing, HVAC, etc. Removed boiler, radiators, and replaced with new Forced and Central Air. Paint, concrete walkway, roof, new trenchless sewer line, and landscaping outside.

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

Excellent neighborhood, strong brick facade, great purchase price with solid ARV post rehab.

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

Owner passed away and I helped the family, who no longer lived in state, take care of the cleanup and paid cash for the property, as no traditional lender would provide a mortgage to someone buying it.

How did you finance this deal?

Cash

How did you add value to the deal?

Owner was a very bad hoarder and with the family out of state and having to leave their homes to deal with the property and death of a loved one, I provided them with a fast and easy cash close while also helping to remove everything in house which filled 5 dumpsters for a 1,300 sq ft home. It would’ve taken them months to clean out the home.

What was the outcome?

Great return on investment.

Lessons learned? Challenges?

Doing a trenchless sewer line saves thousands of dollars and days or weeks of manual labor. A 45’ line was completed in 4 days.

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

Myself :)

[Vanessa Ganaden]

@Nate Nieland

Whoa! That turned out to be a great rehab. Any tips for a first time flipper?

I also think you made a good point that you aren't guilty about the profits that you made. I know some people might think that you are taking advantage of that family and you bought it for dirt cheap. But it's the fact that the family doesn't have to fly out to see the house, hire a contractor, go through the owner's mounds of stuff, sell it etc etc. You made it easy for them, and that's the value that you provided.

Kudos to a good deal and a successful rehab!