Flipped an Athens home!

[James Phillips]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $48,000
Cash invested: $23,742
Sale price: $95,000

Flipped a HUD home. It was the 15th home I visited/looked at. Everything was cockroach filled and needed to be replaced, and I did! New floors, new cabinets, new outlets, new vanity, new doors. The outside has motion detecting lights (semi-security system) and a ring doorbell.

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

It was available and in my price range haha. I know I need to start somewhere, I'm glad I did!

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

It was on the MLS and a HUD home. We took the 1.5% sellers contribution, but added $500 to the list price.

How did you finance this deal?

Eva bank has a great program for flippers

How did you add value to the deal?

By doing most of the work myself

What was the outcome?

A great sale

Lessons learned? Challenges?

This stuff is within my grasp, but it's really difficult. Time is not your friend, to that end double what time you THINK a repair will take.

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

Sarah Ragan is my realtor - I can't recommend her enough!