My First Investment ever!!!

[Alejandro Condis reyes]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $192,000
Cash invested: $10,000

A team of investors put money in order to buy this house.
We were able to finish the rehab, but due to the COVID-19; we have not bee able to sell it yet.

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

I was not directly involved in the desition process of investing in this house.
I had team-up with another investor who was the one that told me about other investors looking for money to buy a house with the intention to rehab it and sell it.

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

The negotiation I did was not based on any set of rules or principals.
I was told that I will receive 10% of whatever my investment is, so I gave $10,000.
On the same note, there was not any written agreement wish I understand that increase the risk, but it was made more in men's trust.

How did you finance this deal?

I use my own money.

How did you add value to the deal?

Being this the first deal, I guess there was not much value I could add, except the fact I was giving money to close the deal.

What was the outcome?

I have not bee able to see the outcome in terms of Return of Investment (ROI) because the house has not been sold yet.

Lessons learned? Challenges?

I learned a lot.
I was able to realize how little knowledge I have in terms of rehabbing, calculating cost, being able to put a deal together, etc.
However, this has been a source of inspiration and motivation to continue learning.

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

I did not work with any RE agent because I am a Realtor,