Fix and Flip in Albany NY. Listed as the pandemic started

[Chad Parkhurst]

Investment Info:

Single-family residence fix & flip investment in Albany.

Purchase price: $96,000
Cash invested: $50,000
Sale price: $170,545

This one got a little harry trying to sell at the start of a pandemic, but we got there! First buyer fell through at the last minute as banks were shutting down. Had to drop the price as we did not want to hold it long as the pandemic was starting. Ended up close to a break even, thinking the market would end up getting flooded with properties at the time before all the moratoriums were put in place. Hind site is 20/20

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

This one came from out realtor

How did you finance this deal?

Hard money

How did you add value to the deal?

Cosmetic updates

Lessons learned? Challenges?

Navigating sales in the beginning of a pandemic.

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

We have the best realtor in the capital district of NY