3rd Flip within a year for this part-time investor

[Charles A Munk]

Investment Info:

Single-family residence fix & flip investment in Deltona.

Purchase price: $100,000
Cash invested: $35,000
Sale price: $190,000

Fix and Flip in Central Florida. This hoarder house was a challenge to clean out and remodel.

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

It was a good price in a nice neighborhood.

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

Found this deal through a wholesaler and paid his asking price.

How did you finance this deal?

Used a hard money loan.

How did you add value to the deal?

Completely remodeled interior of home.

What was the outcome?

Sold home for a profit.

Lessons learned? Challenges?

Lessons learned:

1. It's good to have a network of contractors.
2. It takes a little more time to sell a property through the holidays.
3. I need to find a private money source to scale my business.

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

MoFin Lending