1025 Westminster Hill Road Fitchburg, MA 01420

[Moises R Cosme]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $168,000
Cash invested: $45,000
Sale price: $247,000

MOVE IN READY, ranch style home with a flexible floor plan. On the main level completely renovated eat-in kitchen with upgraded granite countertops and Energy Star stainless steel appliances. New tile flooring, refinished hardwoods. On the lower level two brand new rooms with fresh carpet and a full bath. Brand new high efficiency furnace, and laundry hook ups. Newer roof. Giant Detached two car garage, large level backyard space and a fenced in front yard. All this in a nice area.

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

I lived in the town for a long time & was familiar with the neighborhood; I thought the street was great, the house had fallen on hard times but I thought I could bring it back to life.

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

Found it on Auction.com, there is not much to negotiate on that site but I thought I got a fair deal and the investment worked out.

How did you finance this deal?

Hard money.

How did you add value to the deal?

Used above market materials; this property would normally sell for $220,000, I was able to get the additional $25,000 because we used higher quality materials. The quality of the materials and finishes added value since we recouped a multiple of our costs with the final sale.

What was the outcome?

Found a great family to buy the house & they love it!!!

Lessons learned? Challenges?

City of Fitchburg has some peculiar codes, as soon as I realized there was some learning to do I took a step back spent time with the building department and planned the project a little differently than I initially thought.