The Rialto Orange door

[Michael Nugent]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $242,000
Cash invested: $291,000
Sale price: $350,000

Entry level single family residence with 4 bedrooms, 2 baths, 1150 sq. ft. of living area a 2-car garage detached and a 8000 sq ft lot. This was a cosmetic rehab which included the replacement of the HVAC with refurbished one, and all gas pipes, windows, floors, kitchen, bathrooms, paint and fresh sod.

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

The fact that it is a 4 bedroom at a great entry level price uf under $350,000 which we knew would make it fly off the shelves.

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

Found it through my own sphere of influence. We ended up paying a bit more as we had to go against a wholesaler.

How did you finance this deal?

Cash

How did you add value to the deal?

Total cosmetic rehabbed staging. We moved the laundry into the garage.

What was the outcome?

Listed it for $339,990, received multiple offers and sold it in only 3 days time for $350,000. We re making a cool $44,000 which is 6.7% ROI. I didn't use any of my money. I have a silent investor whom I offer 50% on the total revenue. So my personal gain was $22,000 for 4 weeks of work about 50 hours of my time.

Lessons learned? Challenges?

Always run a gas leak check on the property. Mostly on this older homes. It will save you time and money. Always use Simply safe for alarm system.

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

Nope