Fix and Flip 2/9/2016-4/7/2016

[Daniel Riccio Jr.]

Investment Info:

fix & flip investment.

Purchase price: $135,000
Cash invested: $150,000
Sale price: $210,000

This was my first "Pre-Hab" project. I was first explained the thought process behind this from a colleague I met at a conference in Florida. We basically took a property that was totally un-livable and just cleaned out the inside, and cleared out the debris around the house on the outside. We then re-listed for sale to someone who took the Re-hab all the way, or an end buyer wanting to put in sweat equity and live there. This had to be listed on the MLS since at the time I did not have a good network of cash buyers. Lesson learned was as they say "Your Network is your Net Worth" If i had a good list of contacts I would have been able to save 10K in realtor fees, and potentially been able to close quicker. Overall solid quick deal!

**Sorry for not having good before photo's just google maps, but it was loaded with debris inside**