52 Elm St. Gardner, MA 01440

[Moises R Cosme]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $120,000
Cash invested: $71,000
Sale price: $245,000

This home is fully renovated, all systems are brand new!! First floor is open concept featuring hardwood floors throughout. Living room is spacious and allows for family game nights or entertaining guests with easy access to the brand new kitchen. Kitchen design features top of the line materials with stainless steel appliances, the layout and look are spectacular but practical with plenty of storage and counter space.

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

I am local to the area.

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

Found it on the MLS.

How did you finance this deal?

Hard money.

How did you add value to the deal?

As a standard principle we add value by giving entry level Buyers in our markets, a better product than they would otherwise find in the market. We typically get a premium to the market, which is disproportionate to the cost we incur with the materials & labor associated with the upgrades.

What was the outcome?

We made a fair return on our money.

Lessons learned? Challenges?

Learned that I needed better systems for tracking & evaluating projects. Learned to drill down on the value of properties with & without a garage; we overestimated the premium we would get on our upgrades, and discounted the impact of not having a garage.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Thomas Pultorak, he is an excellent Agent does a lot of distressed business in and around Gardner, MA.