Single family home fix and flip.
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $120,000
Cash invested: $54,000
Sale price: $195,000
We purchased this 1949 home and renovated it over the summer. Big project that included rewire, new roof, new hvac, and all cosmetics.
How did you find this deal and how did you negotiate it?
Found it on the MLS. It was just outside a hot neighborhood that homes were being renovated.
How did you finance this deal?
Conventional loan for purchase. Private money for the reno.
How did you add value to the deal?
Improved the property .
Lessons learned? Challenges?
We over improved the property for the area. Could have made more profit with less investment.