First live and flip

[Monica Lauzun]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $239,000
Cash invested: $35,000
Sale price: $339,000

My husband and I found a great opportunity for a live and flip in Novi, MI. Novi is a great city with highly reputable schools and is a highly sought after area for families. When we saw this home on the market a couple of years back, we knew this was the perfect home to start with. Seeing as the home already had 5 offers on it, we had some serious competition! Thankfully our offer and being a newlyweds (using all of our wedding money to purchase the home) became the most appealing offer to the bank owned property (Who knew they had a heart!). We lived in the home for about 1.5 years. We put some serious sweat equity into the house and fixed it up nicely in between our 9-5 jobs!