Gap Funding for Flip in Federal Hill area of Baltimore Maryland

[Benedict A Hubbert]

Investment Info:

Single-family residence note investment investment in Baltimore.

Purchase price: $180,000
Cash invested: $50,000

Full remodel with 2nd floor addition. In addition to providing the gap funding, I participate in the weekly calls for progress of project and am learning about hard money lending, construction, and general real estate investing.

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

I wanted to get into flipping properties and figured an easy way to get into it is to invest and ask as many questions as possible. I think of this more as an investment in learning that the ROI on my cash investment.

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

Realtor brought this off Market deal to the real estate investor I am working with.

How did you finance this deal?

Hard money 65% ARV and 50K note.

How did you add value to the deal?

Adding second story was big bonus. The house next door did the same thing not too long ago. Full interior remodel.