Raytown, MO Fix and Flip

[Mark N.]

Investment Info:

Single-family residence fix & flip investment in Raytown.

Purchase price: $92,000
Cash invested: $27,000
Sale price: $143,000

Contributors:
Colin Douthit

Bought this originally intending to BRRRR, but ended up flipping it. Received a full asking price offer on second day on the market.

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

I found this property on the MLS. It had been on the market for a while, and the prior contract had fallen through. It was previously under contract at $106,000. I got it for $92,000.

How did you finance this deal?

Private lender for the purchase price. My own money for the rehab and carrying costs.

How did you add value to the deal?

Total interior rehab. Exterior paint, deck repair and landscaping.

What was the outcome?

Under contract after two days on the market. Sold for full asking price.

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

Colin Douthit of Red's Home Renovations.