Tanglewood Neighborhood Flip

[Katie Neason]

Investment Info:

Single-family residence fix & flip investment in Bryan.

Purchase price: $130,000
Cash invested: $56,454
Sale price: $220,000

Before and After video: https://youtu.be/2wjjnW3NSMA

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

It's what we do.

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

The owner of the house had passed away. The adult children were going to have "some work" done on the house before listing it. One of my subcontractors was there to bid the work for the family. He told them that he did not think the money they were going to invest to do the limited work they were thinking was going to payoff in the end (he was right) and suggested they call us.

How did you finance this deal?

Cash.

How did you add value to the deal?

Removed wall between the formal dining and living and walls between the living and kitchen. Replaced all the flooring, Doubled the size of the master bathroom and relocated the master closet. Removed wallpaper. Gutted the hall bath. Painted interior. Installed all new cabinets, countertops and appliances. Replaced garage door. replaced rotten wood. Painted exterior trim.

What was the outcome?

We made a little money.

Lessons learned? Challenges?

Treat your subs good and they will be advocated for you.

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

My business partner, Sarah Norman, has been a realtor for 40+ years. She is the buying and selling agent on all our deals and she is amazing.