Our First Flip in Richmond, Texas

[Kristie S.]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $195,000
Cash invested: $175,000

3214 Sqft house / 11,370 Sqft lot.

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

We have always wanted to flip houses and thought there was a lot of potential in this one - also a lot of spread between purchase price and ARV.

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

We bought it from the wholesale company New Western

How did you finance this deal?

Hard Money and a SBLOC

How did you add value to the deal?

We put a lot of special touches into the house to attract buyers and take it from the ugliest house to the nicest 1983 house in the neighborhood.

Lessons learned? Challenges?

Check out my blog for many lessons learned...

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

Kimbra Valachovic was our realtor - very knowledgeable in Fort Bend and a big part of our team!