Cute Condo - Easy First Rehab!

[Carrol Rhead]

Investment Info:

Condo fix & flip investment.

Purchase price: $155,000
Cash invested: $20,000
Sale price: $207,000

Great 1 bed, 1 bath condo in the hot new 8th & Colorado Blvd area.

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

Some of the rehab (floor) had already been started, making this a pretty simple first project.

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

Purchased from local wholesale group.

How did you finance this deal?

Cash loan from local bank.

How did you add value to the deal?

Completed the rehab job, added nice finishes and custom made island.

What was the outcome?

Sold above asking price! And, during a hosted Open House found a new client and was able to help them purchase another unit in the same building.

Lessons learned? Challenges?

Be sure to get an independent inspection of all systems.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I am an agent and always excited to help others!