Fix and Flip In Philadelphia Spring Garden

[Cecil D.]

Investment Info:

Single-family residence fix & flip investment in Phila.

Purchase price: $478,000
Cash invested: $150,000
Sale price: $725,000

Spring Garden Philadelphia, PA.

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

Coming back into the real estate realm after a long hiatus.

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

I was the successful bidder at an auction. Bid, win, give deposit, close.

How did you finance this deal?

Somewhere midway between hard money and traditional financing.

How did you add value to the deal?

Physically, the look was changed completely with smooth freshly painted walls, and ceilings. New lighting, flooring, kitchen, roof, roof deck.

What was the outcome?

Outcome was a real beauty. Wouldn't have sold if my financing act was in order. Was making good bank short term renting.

Lessons learned? Challenges?

Always challenges. Good, skilled workers are hard to find and never skimp on quality.