Super Quick Clean & Flip

[William Bratrud]

Investment Info:

Single-family residence wholesale investment in Riverside.

Purchase price: $305,000
Cash invested: $308,000
Sale price: $365,000

We purchased this fixer upper which was previously occupied by a hoarder tenant. It literally looked like someone died in every room of the house. This was a super simple flip and went down as follows..... 3 days after the close of escrow we had a crew of 13 guys who managed to fill up 2 forty yard dumpsters in 7 hours including all of the trash from inside the home as well as yard cleaning/trimming in the front and backyard. we immediately listed the property and within 7 days of listing had an offer from another investor for $365,000. we closed the deal and resold with a 10 day escrow netting a profit of approximately $38,000 in less than 21 days.

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

It was about 150K under ARV, there was great potential with multiple exit options

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

An agent/Broker i've worked with multiple times in the past brought this deal to me

How did you finance this deal?

Cash

How did you add value to the deal?

Cleaned out 2 forty yard dumpsters worth of trash and debris, trimmed the bushes and trees, tor out old nasty flooring and carpet.

What was the outcome?

Re-sold to another flip investor for $60K more than we bought it for

Lessons learned? Challenges?

There are multiple ways to make money in real estate, sometimes a good cleanup is all you need to do to make a decent profit.

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

Yes. Brad Freeman with Freeman and Associates was the creative brains and a money partner in this deal. Anyone looking for a great commercial broker in southern California should give him a call. This guy has a way of making deals happen when others can't and he has some very creative methods of buying and selling difficult properties.