West Park Mid-Century Modern

[Jim Pinter]

Investment Info:

Single-family residence fix & flip investment in Cleveland.

Purchase price: $65,000
Cash invested: $75,000
Sale price: $217,000

Located in the wonderful up and coming neighborhood of West Park this mid century modern split contains 3 bed and 2.5 baths. The scope here was a full gut and renovation with 100% Amazon Alexa integration.

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

We love the neighborhood and location near the Rocky River Reservation. The reservation is one of the best park systems in Cleveland Area and has options for recreation of all types. Being an outdoor active lifestyle focused company we strategically select projects that can provide a multitude of outdoor recreation options.

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

This was a post 2008 purchase made in 2013 from a bank. Due to life changes I had to hold as a fall back option until mid 2018.

How did you finance this deal?

Traditional bank

How did you add value to the deal?

Self performed 90% of the build and design services.

What was the outcome?

This was truly a labor of love for me. This home acted as a residence for me when I needed it and a safe guard allowing me to push the boundaries of my professional career without being afraid of the fall out. Which in early 2018 I was finally at the end of my traditional career and able to start building this special project.

Lessons learned? Challenges?

Finding good trades is going to be the largest challenge I face on this side of the business. Went through way to many trades and lost way too many months to no shows or rework.

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

Yes my beautiful soon to be wife and partner. YES! just ask.