Single Story Abandoned Trap House

[Martin Ruiz]

Investment Info:

Single-family residence fix & flip investment in Moreno Valley.

Purchase price: $210,000
Cash invested: $65,000
Sale price: $330,000

Single Story Moreno Valley home that was left abanded for a few years by the owner who owned this home for 30 years. He got tired of renters and people damaging the home and issues with the city. After contacting him a few times and getting him to agree to sell it. We agreed to a price that he was willing to accept. It was a quick and easy deal to put together. We were in and out of this investment in less than 4 months. It was a great return and made this a home right before the holidays for a family that fell in love with it. These flips are bread and butter type deals. We do about 3-4 a year and the profit range is anywhere from $45,000 to $100,000 this one was a great return for the time frame and amount of work that was needed to get done.

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

It was a fast easy and cost-effective investment

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

driving around for vacant homes

How did you finance this deal?

hard money

How did you add value to the deal?

updated the kitchen and bathrooms and painted inside and out plus moved a wall to open the kitchen to the living area

What was the outcome?

the outcome was we completed this deal from start to finish in 3 months and sold it for a good profit

Lessons learned? Challenges?

I learned that when a home is vacant and people break in chance are they will continue to break in have a camera system installed