1st flip house completed in Darwin. MN

[Sarah Knutson]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $53,000
Cash invested: $72,000
Sale price: $190,000

Darwin flip

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

The house was a good deal and this was our first offer we put in on a property. We had a buyer for the house before it was completed.

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

This deal was found on Realtor.com
We called the Realtor we were working with and asked her to put in an offer and our offer was accepted the next morning.

How did you finance this deal?

Cash

How did you add value to the deal?

The house was completely gutted inside and all new plumbing, wiring, ac/heater and windows were installed.

Lessons learned? Challenges?

Patience when other contractors were not showing up on a timely manner.