Fix and Flip near Beulah park Grove city area.

[Caleb Roberson]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $104,500
Cash invested: $47,000
Sale price: $210,500

The home is a ranch-style home. There is a park and track right behind the back yard.

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

The equity spread and location of the deal was great. Very quiet neighborhood and a lot of development going on near the location.

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

This property was passed on to a grandson from a client my wife used to give care for in an assisted living community. The grandson was ready to sell the property after she had passed and I gave him an offer before he put it on the market.

How did you finance this deal?

FHA and personal income for repairs.

How did you add value to the deal?

Exterior paint, interior paint, new kitchen, new bathrooms, new flooring, added mudroom, opened the space by removing walls.

Lessons learned? Challenges?

Ran into issues during the selling process. Our plan was to list at $217,000, but the agent's broker said we should list at $225,000. We tried that and it was a mistake. We found out the house was appraised at $218,000 but this was after the agent kept suggesting credits and price drops because it was taking so long to sell. We were priced at $210,000 by the time we sold it.