Newer Homes are Best Flips when found at cheap Price

[Mel Salinas]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $88,000
Cash invested: $18,000
Sale price: $130,000

Quick cosmetic; sales desc: Comfy updated Sunrise Ranch home in gated HOA community with NEW roof! New oversized cooler! and New water heater! So much NEW: Features fresh paint inside, and new coat of BEHR Masonry, Stucco and Brick Paint on exterior. New Pewter Oak hue flooring with stained to match all wood square edge baseboards & trim throughout - NO CARPET! All new bath and kitchen plumbing fixtures and steel braided water lines. New custom front entry door, several new interior doors and al

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

Easy remodel

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

MLS

How did you finance this deal?

Cash and Heloc

Lessons learned? Challenges?

Easy remodel, but the resale price was still not where we needed it to be; the appraiser would not budge although there were other nearby comps that supported a higher sales price.