Single family condo flip Annapolis Maryland area

[Ken Nyczaj]

Investment Info:

Condo fix & flip investment.

Purchase price: $170,000
Cash invested: $75,000
Sale price: $315,000

$170,000 Purchase Price
$8,000 Closing Cost
$4,000 Holding Cost
$75,000 Renovation
$20,000 Selling Costs

$315,000 Sale Price

$38,000 profit.

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

Trying to flip properties to make money to invest in rental properties- residential and commercial

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

Marketing Sign and negotiated face to face with seller

How did you finance this deal?

Local portfolio lender

How did you add value to the deal?

New exterior and interior

What was the outcome?

Good profit

Lessons learned? Challenges?

Do your due diligence when buying condos and read the declarations and meet the board if possible so they approve your work.