400 Clark St. Gardner, MA 01440

[Moises R Cosme]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $150,000
Cash invested: $47,000
Sale price: $240,000

Spacious Colonial On A Large Lot, in a lovely area. Flexible Layout! Possibility of a Bedroom on the First Floor, if That is Not Necessary the Large Space would Be A Great Office or Playroom. Lots of upgrades! Gorgeous Kitchen with Upgraded Granite, Brand New Cabinets, New Energy Star SS Appliances, Peninsula with bar seating, Trendy New Tile and Plush Carpet Throughout, New Roof, New Furnace, New Oil Tank, Completely Repainted Throughout!!!

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

I am a real estate in the area and knew the neighborhood, the property came on the market and I thought it was a good opportunity.

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

Found it in the local MLS.

How did you finance this deal?

Hard money.

How did you add value to the deal?

Added value by making repairs to the property that exceeded the average Buyer's wants. Gardner is a blue collar town and most entry level Buyers are used to seeing laminate counter tops and basic appliances, we invested in higher grade materials to give entry level Buyers great value. The approach worked we sold for a premium price!

What was the outcome?

We did well, overall our return on investment was very strong.

Lessons learned? Challenges?

Learned to stick to my guns. Comparable properties in the market at the time of the sale were selling in the $220,000 price range, but I felt strongly that we would sell at a premium because of the level of renovation that we did. It took us a few weeks longer than the average to sell the property, but we got a premium price which compensated for the additional time.