Fix-N-Flip with a couple pictures!

[Brett Tvenge]

Investment Info:

Condo fix & flip investment in Phoenix.

Purchase price: $131,500
Cash invested: $30,000
Sale price: $208,000

Bought property off wholesale deal with intentions to either BRRRR or flip. Once we ran the numbers late in the rehab we decided to unload it as a fix-n-flip

This is a 2 bed/ 2 bath condo in the heart of Phoenix in a vibrant upbeat neighborhood. We knew it would go quick.

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

Our business model we are very conservative we make sure the deal works for 2 exit strategies, by either fix-n-flip or hold adding to our rental portfolio.

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

We got this deal off a wholesaler we use here in Phoenix, AZ. No negotiating. Paid asking price

How did you finance this deal?

We used hard money for for 106,000. Cash out of pocket for the rest (down payment, closing cost, and rehab)

How did you add value to the deal?

We did a full remodel.

What was the outcome?

The outcome was a successful flip.

Lessons learned? Challenges?

Challenges on this one would be we feel we did not see the return on some items including custom cabinetry, nicer appliances, etc. This desirable area would have sold the condo regardless.

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

Chris Bowers is our realtor. He is the best in Phoenix.