Live in flip, Fort Mill, SC 33% ROI in under 36months

[Lucas Vriner]

Investment Info:

Single-family residence fix & flip investment in Fort Mill.

Purchase price: $450,000
Cash invested: $40,000
Sale price: $599,900

Live in flip. From $450,000-$599,900 (33%ROI) in under 36 months.

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

Recognizing an opportunity with a distressed seller.

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

I lived on the same block and knew the family. I knocked on their door and made a verbal offer far below market value. Several months later the home owners called back. I listen to their list of needs and made every effort to make the transaction as simple as possible for them.

How did you finance this deal?

20% down conventional.

How did you add value to the deal?

Mostly cosmetic work. Updated all lighting throughout, paint, exterior and interior, cleaned up landscaping, added new sod and landscape lighting stained all decks, window treatments, kitchen hardware, updated furniture and excellent photos.

What was the outcome?

Sold for 33% ROI in under 36months.

Lessons learned? Challenges?

Meet people needs. In this case, the sellers where more motivated by making things simple and fast than any other factor. Meeting that need resulted in a far below market purchase with a light cosmetic rehab.

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

Agent:
Sam Grogan
(704) 564-0220
Mobile
Broker at Coldwell Banker Realty - Carolinas
Broker/Owner Best In The Carolinas at Best In The Carolinas

Sam is hands down the best Real Estate broken anyplace in the Charlotte metro area. Can't recommend him enough.

Lending:
Kara Whitman at Wyndham capital.
Kara is excellent, fast and knowledgable. I find Wyndham to have some of the most competitive rates available.
704.804.7515