Fix and Flip in Nome Texas
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $135,000
Cash invested: $45,000
Sale price: $259,000
foreclosure we picked up before it hit the courthouse. $135K PP, and an estimated $45K rehab, we are about 60% done with the rehab and looking to sell around $259k! Will keep it posted!
How did you find this deal and how did you negotiate it?
Pre foreclosure. Used a realtor to negotiate it and stay on it. Took 5 months!
How did you finance this deal?
I used a LOC I have from the bank to purchase and funds for rehab
How did you add value to the deal?
I did an entire new kitchen and floors which will update it and new master bath area!
What was the outcome?
Still pending but looking great!
Lessons learned? Challenges?
so far no lessons YET! Challenges are simply the drive is 40 minutes from my house which can be a drag
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Jenna Kelly