Duplex Fix & Flip - 1st Partner Flip

[Patrice Boenzi]

Investment Info:

Small multi-family (2-4 units) fix & flip investment in Grand Rapids.

Purchase price: $118,000
Cash invested: $51,000
Sale price: $222,500

Duplex Flip

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

We like investing in duplex so if they do not sell they can be rented to cash flow.

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

Our Realtor found us this property

How did you finance this deal?

Conventional Financing

How did you add value to the deal?

We updated both units and made it as maintenance free for the next landlord as possible.

What was the outcome?

Property sold within 12 hours in a multiple bid situation

Lessons learned? Challenges?

Lessons Learned = working with partners for the first time communication is a MUST!

Challenges = Being out of town was tough when things would hit a road bump it was hard not to jump in the car.

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

Realtor, Lender and Partners