Louisville KY Investment Breakdown

[Luke Smith]

Investment Info:

Retail fix & flip investment in Louisville.

Purchase price: $261,500
Cash invested: $12,000
Sale price: $280,000

The property was duplex. We held the property for 2 years while we rented both units through Airbnb. We fixed one side up while we rented the other and vice versa. Then we rented both sides out until fall of 2019 and sold.

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

We invested more for the cash flow rather than the fix'n flip. We expected the market to crash in late 2019 due to the credit market (no one saw pandemic coming), but we wanted out from the short term rental to pursue other multifamily opportunities.

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

MLS

How did you finance this deal?

Traditional Mortgage

How did you add value to the deal?

Cosmetic Fixes

What was the outcome?

$$$

Lessons learned? Challenges?

We didn't need an agent for this deal as it was listed on Zillow an other real estate sites. We used Redfin on the exit and they only charge 1.5% commission (they're paid salary).

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

Yes, our Redfin agent, Becca Baker (https://www.redfin.com/real-estate-agents/becca-baker) was awesome! Would definitely recommend!