COVID Flip in Progress

[Joseph Bagley]

Investment Info:

Single-family residence fix & flip investment in Southern Pines.

Purchase price: $63,000
Cash invested: $61,000

Started a LLC with a friend and we found a place from a wholesaler in Southern Pines, NC. We're doing a long distance flip and moving slowly but surely.

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

To build capital until I can BRRRR.

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

Through a investor website after googling for weeks. I looked at the purchase priced and had a contractor ball park the rehab honestly.

How did you finance this deal?

Hard money and our money.

How did you add value to the deal?

Full house rehab. Turning it from a 2/1 to 3/2. There wasn't even a kitchen!!!

What was the outcome?

Still on going

Lessons learned? Challenges?

Still learning and being challenged.