My first real flip in 2013

[Nicole Holcomb]

Investment Info:

Condo fix & flip investment.

Purchase price: $195,000
Cash invested: $10,000
Sale price: $279,000

Cosmetic DIY live in flip of 1000 sq ft 1br 11/2ba condo.

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

This was my second project and after having success with a 2 year live in flip I was inspired to try for the real thing.

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

My husband's neighbor in his office complex mentioned they were moving across the country and selling everything, including their condo. I convinced her selling to us would be easier and a better value than listing on the MLS with an agent. The carpet was pink and there were hundreds of rainbow handprints all over the living room walls...

How did you finance this deal?

Conventional loan

What was the outcome?

New flooring and paint through out, painted kitchen and bathroom cabinets, granite countertops, stainless appliances, took down a wall to open up the floor plan.

Lessons learned? Challenges?

We pulled up the fluffy pink carpet to discover a cracked foundation, yikes! However we learned cracked foundations can be repaired relatively easily and for not that much money.