Flip in Toledo OH Suburb

[Chad Boyers]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $30,000
Cash invested: $74,000
Sale price: $132,500

Bought this home from a private seller, needed a total rehab. We opened the walls from the LR to DR & DR to kitchen for a more open flow. All new flooring, paint, light fixtures, doors & trim. Brand new bathroom and kitchen (w/ SS appliances). New concrete drive & A/C. Were able to add a half bath as well. $15k in crawlspace repairs was the big hit to the bottom line.

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

Potential for good profit margin

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

Private seller, needed to get rid of her mother's home

How did you finance this deal?

Cash

How did you add value to the deal?

Full rehab

What was the outcome?

Sold for a mediocre profit

Lessons learned? Challenges?

Get a full inspection done, even if you think you know all of the issues with a property

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

Me!