100 Major Lee Ln Proptert

[Jared Goodwin]

Investment Info:

Single-family residence fix & flip investment in Jarrell.

1,350 sq ft single family home.
3 bed,
2 bath

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

This was a property I found on Zillow that was foreclosed.

How did you finance this deal?

With a partner.

How did you add value to the deal?

I worked as the feet on the ground for the property itself, painting, lighting fixtures, patching holes in walls, added carpet to the master, and contracted any needed labor outside of my abilities.

What was the outcome?

I ultimately gained about $2k and one heck of a learning experience.

Lessons learned? Challenges?

This took about an extra 2.5 to 3 weeks longer than anticipated.
I didn't run all the numbers correctly as there were the common first time flipper mistakes.
This property was about 1.5 miles from residence at the time and making time for it was a still a challenge while working a full time job.

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

On the purchase of the property we worked directly with banks, getting any leans on the property it had, and paid cash.
For the sell of the property we used a R.E. agent, and was under contract in about two weeks.