Fix and Flip - Crestline, CA

[Matt May]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $75,000
Cash invested: $112,000

This is a classic fix and flip single family home in the mountain town of Crestline, CA

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

The numbers looked good...

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

I got this deal from another investor who decided to wholesale it instead of flip it himself.

How did you finance this deal?

My money plus business partners.

How did you add value to the deal?

Fully remodeled the home.

What was the outcome?

We will see...It is currently on the market.

Lessons learned? Challenges?

Forgot to include a few items when projecting the costs; 1) appliances & 2) home owners insurance (the additional cost due to it being in a high fire risk zone).

As a few details were not discussed ahead of time with the contractor and I was not happy with how they end result turned out.

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

I am a licensed Realtor.