2nd Flip Project For Newbie Real Estate Investors

[Andrea Owens]

Investment Info:

Single-family residence fix & flip investment in Lakeland.

Purchase price: $72,018
Cash invested: $18,000
Sale price: $124,000

Pretty much a gut job. New kitchen cabinets/granite installed, new vanities, new toilets, new travertine and fancy trim tile in the walk in shower, new HVAC, new paint interior and exterior, lots of electrical work and light fixtures/new flooring, landscaping.

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

Financial gain

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

HUD Homestore, had Realtor bid about 70% of list price and up offer a dollar a day until they counter back eventually with price we purchased for.

How did you finance this deal?

No

How did you add value to the deal?

Tons of elbow grease and tons of improvements

What was the outcome?

Awesome! We made $31683.24. Would've made $40k, but appraisal forced the purchase price lower