50k Profit Deal on a flip in Detroit MI

[Eric Friday]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $25,000
Cash invested: $15,000
Sale price: $123,000

This was originally a 2/1 brick sfh, I converted it to a 3/2

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

I knew it would be an easy flip, ARV at the time of inspection was 140k, seller only wanted 25k

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

This was a referral lead from one of my many partners, I didn't have to negotiate I let the seller do all the talking, we he said 25k I set the appointment and offered him what he wanted.

How did you finance this deal?

I used a private lender

What was the outcome?

We sold the property

Lessons learned? Challenges?

Stick to the budget, know what finished your comps have

[Eric Friday]

@Jamiel Strickland for sure did!