Carthage, NC fix and flip

[Sherry McQuage]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $65,000
Cash invested: $110,000

3 bed, 2 bath brick house with large laundry room, 1 acre. Easy access to US Hwy 15-501, US 1, Raleigh, Pinehurst, Fayetteville, NC.

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

Want to build long term financial freedom, and utilize our family's skills.

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

Was a for sale by owner.

How did you finance this deal?

Cash out re-financing of primary residence.

How did you add value to the deal?

Extensive updating, remodeling, new windows, new doors, new paint, new flooring, new HVAC, new septic system, new roof. Husband is licensed general contractor, plumber, electrician.

What was the outcome?

Nearing completion of the renovation...

Lessons learned? Challenges?

We need to hire people to do some of the work, instead of doing 90% of it ourselves.

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

Yes, I am a licensed realtor with Keller Williams Realty, Pinehurst.