Sevierville Rental Property #3

[Jeramiah J Peck]

Investment Info:

Single-family residence fix & flip investment in Sevierville.

Purchase price: $127,500
Cash invested: $127,500
Sale price: $165,900

Originally purchased as a long term rental property, couldn't get the amount that I wanted for rent out of it, so we flipped it.

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

Was originally supposed to be a buy and hold long term rental.

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

My Real Estate broker found this deal and helped us negotiate it.

How did you finance this deal?

Cash

How did you add value to the deal?

New flooring, paint, doors, appliances, and cosmetic upgrades.

What was the outcome?

Wasn't the outcome we originally were looking for but we made a decent profit considering the short amount of time we owned the property.

Lessons learned? Challenges?

Overall went pretty smooth, had to treat it for bed bugs, which wasn't that big of deal as we are part owners in a pest control company.

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

Dennis Brooks with Mountain Home Realty of Sevierville Tn
Above and Beyond Hardscapes of Bristol Tn

All About Bugs Pest Control, Sevierville Tn