New Hampshire Live in Flip
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $185,000
Cash invested: $20,000
Sale price: $260,000
Second live in flip in New Hampshire
What made you interested in investing in this type of deal?
At the time we had just sold our first live in flip and was living in a small apartment. I was looking for a solid investment to do this one more time.
How did you find this deal and how did you negotiate it?
Luckily I found an off-market deal through a real estate agent. The seller wanted 180k and the agent wanted 5k so there wasn't much negotiating since I knew i was purchasing at aprox. 15-20% below market value.
How did you finance this deal?
My first house hack in Massachusetts had tons of equity so I took out a HELOC on it and bought it cash/with the heloc.
How did you add value to the deal?
I opened up a wall to create a better flow to the kitchen. Painted cabinets, refinished floors, put in new bathroom fixtures, painted the whole inside and out to brighten it up.
What was the outcome?
My wife and I were expecting out first child, and we needed a bigger place so we put a HELOC on the property as well and bought another home. Afterwards we sold the property.
Lessons learned? Challenges?
If you have a willingness to work and can stay positive even when money is tight you can come out on top!
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Now that I have done this several times give me a call I am lic. in New Hampshire and Massachusetts!
