Single-family residence fix & flip investment In South Haven

[Sarah Knutson]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $125,000
Cash invested: $55,000
Sale price: $289,900

This is a one of a kind home that is two levels with amazing views of the sunsets over the lake. This home is built into the ground and keeps very warm in the winter and keeps cool in the summer months.3 bedrooms with a hot tub room in the master. 2 bathrooms fully updated. New deck on the front with fresh stain on the outside of the home. Upgraded granite countertops in the kitchen and main bathroom. New landscaping around the home.

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

The uniqueness of the home and acerage.

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

MLS

How did you finance this deal?

All Cash

How did you add value to the deal?

New stain on outside of home with new landscaping. Added a new deck. Interior is new flooring, paint and light fixtures. Added a custom made tiled bench for the entry way and tiled the floor. 2 updated and upgraded bathrooms with main bathroom getting granite countertop. Completely new kitchen with all new cabinetry , tiled backsplash, granite counter tops and new appliances. New railing system on stairway. Fireplace also received a makeover.

What was the outcome?

The house turned out beautiful!

Lessons learned? Challenges?

Our biggest challenge was the house sold the next after listing and then covid hit and the current offer accepted lost their their job and we had to wait for them to find another job. After a few months of waiting I sent a cancellation of offer because we were being strong along and their was dishonesty being told to us. We then had 2 other offers that fell apart. We dropped the price by 10,000. Finally we had a great full offer come in all cash and I rushed this offer to closing ASAP.

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

I was the listing agent!