Third Joint Venture in Hampton Roads

[Kristopher Kyzar]

Investment Info:

Single-family residence fix & flip investment in Portsmouth.

Purchase price: $100,000
Cash invested: $30,000

Contributors:
Jonathan New

Joint venture property purchased as a flip. Decided to sell via lease-option. House was being rehabbed when we bought it. We finished the process, and listed it for sale. After a while without significant offers, we decided to list it as owner financed.

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

The ability to work with a more experienced investor while on sea duty.

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

JV partner found and negotiated the deal.

How did you finance this deal?

Hard Money.

How did you add value to the deal?

Finished the renovations.

What was the outcome?

Lease-Option buyer.

Lessons learned? Challenges?

Always have multiple exit strategies.

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

Claudio Valdivia is fantastic!