College Park Flip in Orlando, FL

[Alexander Elder]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $145,000
Cash invested: $100,000
Sale price: $400,000

Major rehab that we initially bought as a tear down. After lots of back and forth we unfortunately were not able to find a company willing to work with us so we proceeded to rehab the existing property which although took a lot of work, was probably more profit than if we were to build new. After jumping through what seemed like an endless amount of hoops, we are very happy with the end result. A few of the 'after' photos listed below. Just shows you cant be scared of the big picture!

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

Location and price

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

Found the deal through a wholesaler and because of the work needed put in a low offer (especially since we saw it had been for sale for a couple months) surprisingly they countered by only $3k so because of the huge profit gap it was an obvious decision.

How did you finance this deal?

Through a lending company.

How did you add value to the deal?

Repairing everything that needed repair, modern updates, opened up the floor plan, new construction.

What was the outcome?

Everybody loves the house

Lessons learned? Challenges?

Less construction / more cosmetic flips due to the amount in holding costs.

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

Worked with GC's, Architects, Engineers, and an REA when the project was completed