Panama City Operation Referral 3.0
Investment Info:
Single-family residence fix & flip investment in Panama City.
Purchase price: $85,000
Sale price: $160,000
This was a 3 Bdr/2 Ba , 1,244 Sq Ft single family house. We updated windows and sliding door, painted interior/exterior, updated existing cabinets in kitchen and bathrooms, and updated light fixtures/switches throughout. Additionally, we cleared the back yard and installed a new fence.
What made you interested in investing in this type of deal?
This is our typical investment house.
How did you find this deal and how did you negotiate it?
It was the 2nd referral from a past client.
How did you finance this deal?
We leveraged our passive investor partners.
How did you add value to the deal?
We updated windows and sliding door, painted interior/exterior, updated existing cabinets in kitchen and bathrooms, and updated light fixtures/switches throughout. Additionally, we cleared the back yard and installed a new fence.
What was the outcome?
We sold the house to an FHA Buyer in a little less than 100 days total! We profited $43,500 after paying $21,000 in renovations, Closing cost $5,000 and paying our private investors $5,500.
Lessons learned? Challenges?
Always treat your clients like gold and they will come back and tell others about your services!
