Garland Texas Fix to Flip

[Kyle Mccaw]

Investment Info:

Single-family residence fix & flip investment in Garland.

Purchase price: $135,000
Cash invested: $50,000
Sale price: $240,000

This property needed to be completely updated to 2020 standards. We opened up the floorplan, added a bath, gutted the kitchen, etc. DFW Landlord Services completed the rehab on this one.

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

House was prime to updating.

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

Real estate agent Ryan Rite with Real Texas found it off market. This was an estate and we just needed all three owners to agree on a price and time to close.

How did you finance this deal?

Private money

How did you add value to the deal?

changed up the floorplan
painted and updated fixtures

What was the outcome?

sold for a decent profit. On to the next/

Lessons learned? Challenges?

Covid and hurricanes slowed down delivery of the windows. We should have ordered those way in advance.

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

Ryan Rite agent with Real Texas
DFW Landlord Services was the general contractor.

[Bronson Massas]

Wow that's a quick flip! Without the window delay, you would have been in and out in a flash!

@Kyle Mccaw I am an active lender in the DFW area, yes. I haven't gotten into the investing side of things quite yet as I am only a couple years out of college (SMU) and am still building capital for my first flip. Dallas is where I'm planning on completing my first flip when the time comes, though!