Insider Flip and Purchase

[Josh Gowan]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $187,000

3 brd, 2 1/4 bath. 1395 sq ft
two story large backyard.

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

Family deal.

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

Family member came to me to rehab and split profits. I ended up taking my profit and purchasing it myself.

How did you finance this deal?

VA loan 0% down

How did you add value to the deal?

I painted the interior, replaced all the carpet, replaced 2 toilets. replaced master bath floor and lighting. replaced laundry room flooring and cleaned it up.

What was the outcome?

Valued at $120k , ultimately sold for $188k after rehab. $18k in my pocket. I lived in the property for one year and then put a tenant in.

Lessons learned? Challenges?

Should have purchased the home before the rehab.

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

Real Estate Agent Mike Sheahan