This deal was brought to me by the same wholesaler who sold me my last property. He knew my credentials for a fix & flip in this neighborhood, and knew this fit my criteria. I purchased this house within the first 5 min of seeing it for the first time. I financed this deal with my own cash as well as private investors. This was a full remodel that took 6 weeks. It is now a beautifully updated home while still maintaining the original character of the home.

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

I was interested in this home because I have renovated and sold 5 other properties in this zip code. The numbers made sense and there were only a few structural changes that I had to make. I also knew that there were easily multiple exit strategies with this deal. I could fix and flip it or hold it for a long or short term rental property.

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

A local wholesaler brought this deal to me. It was a 7 day close and there was no negation. It was an as-is sale and no inspection period. This house was way below market value in an established neighborhood.

How did you finance this deal?

I financed this deal with my own cash (used my money from my flip that closed one week before this deal) as well as private money.

How did you add value to the deal?

I added value to this deal by completely renovating this home from top to bottom. The exterior was updated with new smooth stucco for a modern update and the backyard was completely transformed. The pool needed a full update as well. We removed two load barring walls to create an open concept and relocated ducts to the roof to eliminate soffits. All bathrooms as well as the kitchen received all new everything! A new roof, water heater, and some windows needed to be replaced as well.

What was the outcome?

The house shows beautifully and we still were able to keep some of the original charm of the home. This house is on the market now, however this would also be a great rental property. It is very close to a number of great locations in the Scottsdale area!

Lessons learned? Challenges?

I was not expecting to completely renovate the pool as extensively as I did. The pool company did a horrible job patching the new suction lines on the side of the pool so I had to re-plaster and tile to cover their work. I was only expecting one wall to be load-bearing during my original walk-thru and the wall that I did not realize was load barring required a very large beam that lead to us having to open another wall to support the beam. Due to these items we went over budget by $10,000.00