Flip in Duncanville under contract in less that 24 hours!

[Pimwadee Limsirichai]

Investment Info:

Single-family residence fix & flip investment in Duncanville.

Purchase price: $127,000
Cash invested: $25,000
Sale price: $300,000

Long term investment turned flip! Held for 15 years, updated, then sold on the market in under 24 hours! See photos here: https://tinyurl.com/y3jaegmk

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

It started as a foreclosure that needed a little bit of work, after our long term tenants moved out, the market was great, so we flipped it and sold it!

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

Bank owned foreclosure, purchased from the agent.

How did you finance this deal?

Conventional Mortgage

How did you add value to the deal?

Updated the property completely, while being sure to add curb appeal.

What was the outcome?

Selling it to a family while leaving equity in the place for them as a gift. The place on the corner, same house, same lot, not updated, closed at 360k, but we like to "sell too soon for too low" to create a great win-win situation for everyone!

Lessons learned? Challenges?

It's easier to work in a home without tenants.

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

My company encompasses builders, flippers, and agents, where we perform all our work in house, creating a higher profit margin.