Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 5 years ago on . Most recent reply

User Stats

12
Posts
2
Votes
Brandon Tedford
  • Rental Property Investor
  • Columbus, MS
2
Votes |
12
Posts

My first flip in Columbus, MS

Brandon Tedford
  • Rental Property Investor
  • Columbus, MS
Posted

Investment Info:

Single-family residence fix & flip investment in Columbus.

Purchase price: $45,000
Cash invested: $15,000

A 2350 sq ft outdated property. House is being remodeled and will be sold upon remodel completion for an estimated $40k-$60k profit. Property will sell for at least $100k.

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

Over the years, I have immersed myself in learning about real estate, but haven't really pulled the trigger on many properties. Having done so much research without purchasing, I saw this property as a steal due to the circumstances of the motivated seller.

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

I estimated costs to get the property desirable for purchase, made sure the seller knew the estimated costs, offered $40k and seller countered. We settled on $45k with seller paying $1000 in closing.

How did you finance this deal?

HELOC in a rental property I own.

What was the outcome?

House is currently being remodeled. I am being cautious not to put too much money into the property due to the neighborhood and school district not being the most desirable and so I want to make sure I get a good ROI.

Most Popular Reply

User Stats

1,054
Posts
1,322
Votes
Brandon Goldsmith
  • Real Estate Agent
  • Columbus, OH
1,322
Votes |
1,054
Posts
Brandon Goldsmith
  • Real Estate Agent
  • Columbus, OH
Replied

Congrats on the deal! Do you know what neighborhood its in? @Brandon Tedford

Loading replies...