Updated almost 6 years ago on . Most recent reply
Flip completed Grasonville, Maryland
Investment Info:
Single-family residence fix & flip investment in Grasonville.
Purchase price: $64,000
Cash invested: $130,000
Sale price: $290,000
Latest flip complete in Grasonville, MD. Replaced the following- roof, windows, siding, foundation (framing), flooring, walls/ ceilings, kithen and baths. Long, 6 month project but turned out great, was the eye sore and problem property of the neighborhood and we were happy to help the community.
About 30 days into our latest one and are continuing to look for more deals in this current market situation but playing it safe to keep flips around the $300k price range.
What made you interested in investing in this type of deal?
To help the local community
How did you find this deal and how did you negotiate it?
Off a sign, negotiated directly with owner.
How did you finance this deal?
Bank financing
How did you add value to the deal?
Replaced everything
What was the outcome?
Great opportunity to learn and make some money while doing it.
Lessons learned? Challenges?
Projects can take longer than expected when replacing everything.
