Syndicate Flip in Boise, ID. 32% ROI in 67 days

[Noah Evans]

Investment Info:

Single-family residence private money loan investment in Boise.

Purchase price: $190,000
Cash invested: $22,000

I worked to syndicate the rehab funds on this project and partnered with my contractor to flip the home.

Purchase price: 190k
rehab: 16k
holding cost: 3k
hard money cost: 4k

SALES PRICES: 265K
Selling costs: 15.9k
Profit: 36K

ROI for my 16K investment: 31%

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

The quick turn around time, small rehab, and the fact that my contract was personally vested into the project made me feel it was a good investment.

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

The deal was brought to my contractor by another agent.

How did you finance this deal?

The contractor used a hard money loan on the house and I put in 10K from savings and syndicated 6K from two partners to close the gap on the rehab funds.

What was the outcome?

The house went pending in 1 week at full price of 265K. This resulted in a 31% ROI for my investors and I.

Lessons learned? Challenges?

The best lesson we learned was how to tie our investment to the property as a lien by being added to the deed of trust. The title company did all the paper for us for free.

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

If you want help with any flips or small rehab loan. Reach out to me, I can help you out with finding deals, funding rehabs, hiring contractors, listings homes, staging, and comps. Check out my latest youtube video on my house hack breakdown.