Fix & Flip Completed in Meridian-Kessler Neighborhood!

[Joel Newman]

Investment Info:

Single-family residence fix & flip investment in Indianapolis.

Purchase price: $69,000
Cash invested: $67,000
Sale price: $277,000

Stunning Meridian Kessler home 100% remodeled to balance modern design & historic beauty. Featuring an open layout, 9 ft ceilings, custom stone counters, SS appliances, original hardwood floors & exposed brick. Luxurious master bath with glass-enclosed shower, free-standing tub & double vanity. Bay windows surround farm sink to provide tranquil view of backyard. Impeccable tile work throughout home is showcased around gas fireplace & natural beam mantle. 4 season front porch with panoramic insulated windows. Convenient mudroom & first floor laundry with butcher block counters. Updated fence provides privacy & ample space for pets & children to play. 2 blocks to Monon Trail, Red Line, State Fairgrounds, Library, local shops & eateries!

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

Wanted to build up capital to invest in buy & hold properties.

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

Found on MLS, negotiated price down from $75,000.

How did you finance this deal?

Hard money loan

How did you add value to the deal?

Total gut and remodel to add contemporary layout and luxury finishes.

What was the outcome?

Property was under contract within 6 days of being on the market, closed in approximately 30 days from acceptance date.

Lessons learned? Challenges?

We did almost all of the work on this project, and it was great to get that experience, but it also helped to understand the value of our time and that much of the labor would have been worth hiring out.

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

MM Lending was an excellent partner on this project.