Surprises everywhere in this project.

[Steve Iacobbo]

Investment Info:

Single-family residence fix & flip investment in Burrillville.

Purchase price: $165,000
Cash invested: $35,000
Sale price: $230,000

Surprises around every corner on this one, but the end results was a nice, simple, single family home with a brand new kitchen and a MUCH dryer basement.

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

The location was really nice and the price was good for the location. Rehab also seems straight forward, though I has guessed wrong on that part.

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

This deal was found on MLS and my realtor negotiated the final price.

How did you finance this deal?

Financing was combination of partner funds and private money.

Lessons learned? Challenges?

Many surprises awaited me on this deal. Also, the location was a bit farther away than I would have liked so I learned to stay closer to my main area because the commutes were a real pain.