My First Flip Experience

[Scott Mcfadden]

Investment Info:

Single-family residence fix & flip investment in Tempe.

Purchase price: $240,000
Sale price: $374,000

Just a quick note to share my experience about my first flip in Tempe, AZ.
I was very hands-on with this flip as I wanted to learn as much as possible as it came to each stage of the flip.
3bd, 3ba, 2,133 SF, one-story
Purchased for $240k
Rehab $60k
Sold for $374k

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

Wholesaler

How did you finance this deal?

Hard Money Lender

Lessons learned? Challenges?

Many lessons learned to take to the next project. Biggest challenges were staying on timeline, while staying on budget. Also, building a strong "flip team" with contractors that do good work at affordable prices. Good labor is hard to find!

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

I am a licensed real estate agent, so handled the transaction on buying and selling side.