Flipping a house in Indianapolis during COVID-19

[Stephen Barton]

Investment Info:

Single-family residence fix & flip investment in Indianapolis.

Purchase price: $95,000
Cash invested: $140,000
Sale price: $185,000

This took longer than it should have. First COVID-19 came up on the entire world and really put a dent in our timeline. Then, we had a tough time getting our GC to find people to help him. But in the end we got it listed and sold it in 3 days for $10,000 over asking price!

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

Because it was an off market deal that made sense.

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

From direct mail marketing over three years ago and stayed in contact.

How did you finance this deal?

My client Cory Peffer used his own funds. I worked as the agent.

How did you add value to the deal?

I worked as the project manager and the listing agent.

What was the outcome?

We got it done and the seller made money.

Lessons learned? Challenges?

To have better communication with our contractor.

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

Cory Peffer. He was absolutely amazing to work with as a client. I could not ask for a better client. He did everything I suggested and was always in constant communication with me.