McAllen Fix and Flip 78501

[Boone Tyson]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $87,500
Cash invested: $12,500

Bought this as a fix and flip. Watched it off and on the market for about 4-6 months and finally made an offer to purchase a little below $58 per foot in an area that should resale at between $80-$88 per foot. Didn't love the house but knew the numbers made sense. Still under construction.

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

The numbers made sense. Thats literally the only reason. I actually didn't like the house at all until we demoed a bunch of stuff attached to it. Now I am so glad we bought it. It's amazing what a little demo will do.

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

MLS - Patience and a Cash offer

How did you finance this deal?

Line of Credit

How did you add value to the deal?

Full face lift and got rid of some terrible add ons

What was the outcome?

Still in progress

Lessons learned? Challenges?

Trust your numbers not your emotions

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

Real estate agent representing the seller