Covid flip! Bigger then I though

[Scott Lail]

Investment Info:

Single-family residence fix & flip investment in Mooresboro.

Purchase price: $70,000
Cash invested: $40,000
Sale price: $150,000

Signal family flip

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

I have always loved buying and reselling

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

MLS paid asking price

How did you finance this deal?

Traditional bank

How did you add value to the deal?

Remodeled and finished basement

What was the outcome?

Sold and made around $30k in 4 months

Lessons learned? Challenges?

Trust yourself. Bought when Covid was starting but I felt is was a good deal even if I had to old for a while to sell. The basement added a lot more work then I though it would but was a big selling point