Our first flip! Step 1

[Jeffrey Ascough]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $63,000
Cash invested: $33,231
Sale price: $125,000

1br/1ba adult community.

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

It was a great first step. In a community with a ton of comparable sales and straight forward in terms of estmating costs. Redid everything.

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

MLS.

How did you finance this deal?

Cash

How did you add value to the deal?

I purchased it, acted as my own contractor & had professionals do the work. Redid everything.

What was the outcome?

~$21,000 net profit.

Lessons learned? Challenges?

do not count pennies.