Renovated and sold. Shelby County, AL

[Andy Yarbrough]

Investment Info:

Single-family residence fix & flip investment in Wilsonville.

Purchase price: $120,000
Cash invested: $69,000
Sale price: $249,000

4 BR, 3 Ba Renovated.

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

I started with a partner. Bought their share out and completed and sold for profit.

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

It was a foreclosure. Purchased and used a private lender.

How did you finance this deal?

Private lender.

How did you add value to the deal?

By updating and renovating the house.

What was the outcome?

Sold it for a profit.

Lessons learned? Challenges?

Shelby County Inspectors are strict so I will probably avoid area next time. It was a bit far from my usual area which made it difficult to over see the renovation and use contractors for that area rather than my usual contractors.

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

I used Realtor Julie Watson with Keller Williams in Alabaster, AL. I was pleased and would use again.