Home "Rehab on the Ridge"

[Michael Bishop]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $27,500
Cash invested: $70,000
Sale price: $150,000

Purchased thinking I'd live there and work on it while doing my regular realtor duties. Original thought was a year time frame to sell which extended due to time constraints as well as capital constraints - plus it was a cool house just not in an ideal location but the area was improving so the extended time also helped with a better net

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

It was very close to Grandview & just below Valleyview but in an area of the N. Hilltop which is cut off from most of the area. Easy access to Dublin Rd, Downtown, I-670 as well as I-70

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

MLS listing popped u in a client search who had stopped looking. I'm an agent so I negotiated directly with the listing agent

How did you finance this deal?

Cash

How did you add value to the deal?

Did some of the work myself probably 25% and hired the other aspects through contractors

What was the outcome?

Profit and a nice safe home & residence in the process

Lessons learned? Challenges?

Look at the neighbors more closely - not just their homes but the people

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

Several contractors who I continue to use now