Fix and Flip, hogeye rd

[Jeoffrey McCalla]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $127,500
Cash invested: $15,000
Sale price: $190,000

We mainly did a cosmetic upgrade to this residence. The house also had 2.4 acres and two shop buildings! With upgraded features, Land and Shop buildings, The value of this house really went up!

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

The potential for profit was really good!

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

I bought it wholesale from another investor!

How did you finance this deal?

A construction loan through a local bank. 15% down.

How did you add value to the deal?

Updated the structure, mainly cosmetic. Also added new hvac and appliances!

What was the outcome?

It sold within 8 hours of posting on the MLS!

Lessons learned? Challenges?

Don’t get in a rush when painting cabinets!