First Flip Investment

[Eric Carter]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $150,000

1836 sq ft 3/2 home on 2 acres with a barn

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

The deal came up and it was my first investment and I jumped on it.

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

I found this deal by calling a local agent that had sold my moms house about 2 years ago and told her I was a cash buyer and looking for an investment property. I called her at 12 pm and the same day she called back at 4 with this deal and I jumped at it. It was priced at 140k and I was the very first offer by 7 pm that night and the next day at 9 am the realtor called and told me she would stop showing the property if i went to 150k and i said lets do it.

How did you finance this deal?

I am currently partnered with a real estate investor buddy who brokers hard money loans and he has a hard money lender that we used.