Investment Info:

Single-family residence fix & flip investment.

Purchase price: $90,000
Cash invested: $90,000
Sale price: $349,900

Beautiful Queen Anne circa 1899 purchased in Knoxville. Over 3,000 sqft that originally had an awkward mother in law apartment and crow's nest above. We converted the upstair kitchen into a master en suite and walk in closet, making the house 4 bedroom and 3 baths. The renovation took approximately 4 months and was extensive but it turned out great. We broke a price barrier in this neighborhood and several houses have subsequently come on the market close to our price point after we sold this house.

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

Restoring a Historic property

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

I found the deal by researching the property and keeping up with its seller status.

How did you finance this deal?

Initially with cash and then with hard money when necessary

How did you add value to the deal?

Complete Renovation

What was the outcome?

The pictures speak for themselves. The house was stunning.

Lessons learned? Challenges?

Big houses are hard. Old houses are hard.

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

Victoria Melhorn, Realty Executives did a fantastic job finding the right buyers who love the house as much as I do.