Triplex hold that turned into a flip

[Gavin Welch]

Investment Info:

Small multi-family (2-4 units) fix & flip investment.

Purchase price: $72,000
Cash invested: $2,000
Sale price: $118,000

I was going to keet this property, but I found an 11 unit I wanted. So I stuck it on the MLS and got a $118,00 cash offer. So, I repaid the $80,000 private money (principal plus some love) and kept the change for myself. The $30,000 profit in 2 months for an eviction and 2 placements is not a bad return

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

The numbers were great.

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

Wholesaler

How did you finance this deal?

Private $$

How did you add value to the deal?

evicted a bad tenant

What was the outcome?

A little over $30K profit in 2.5 months

Lessons learned? Challenges?

none

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

I'm a broker