Flip during COVID height

[Tyler Roger Goble]

Investment Info:

Single-family residence buy & hold investment in Sneads Ferry.

Purchase price: $117,500
Cash invested: $20,000
Sale price: $189,900

Bought a VA Foreclosure in the Sneads Ferry area and doing a live in renovation prior to myself and soon to be wife moving in. Actually closed on this house while on a deployment (Active Duty USMC) and had to go through all the hoops of purchasing the home digitally and via a Power of Attorney. Utilized Vendee Financing and was able to close on the property with no money down. Would have used a VA Loan however I already own one property with a VA Loan and this property did not meet the min price requirement to open another VA loan. More than willing to discuss the challenges of closing on a home long distance or through a power of attorney. Looking to do more deals in the greater Camp Lejeune area, fix and flips or long term rentals. My comfort zone is SFR however I would be interested in small multifamily properties as well!

UPDATE:

Currently on the market as of 11 April 2020! Trying to sell in the midst of COVID-19 has been interesting but my wife and I are hopeful to get our asking price of $189,900, will update when it's sold!

Ended up getting $184,900 for the property and after all costs walked away with $46,000. Very happy with this outcome, initially planned on having this property as a buy and hold, but my wife and I decided to go ahead and sell for that price as it was too good to pass up with the timing in our lives (Moving across the country to California and in first year of marriage this allowed us to have a little more margin in our lives).

Tyler