My first flip was a success with profit

[Gary Voorhees]

Investment Info:

Single-family residence fix & flip investment in Yorktown Heights.

Purchase price: $296,000
Cash invested: $23,000
Sale price: $395,000

Successful first flip with profit and lots of learning curves, challenges & wins!

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

Get going on my dream / finding a home for my family and i in the meantime

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

MLS represented myself , there were multiple offers on this house ( cash offers & Higher ) my strategy was i offered $1000 over ask and surrender my commission and inspection was informational only. (The no commission ) really stuck with the seller, that was little money ( so sometimes you just have to think outside the box )

How did you finance this deal?

Put 20% down conventional loan

How did you add value to the deal?

I sold it off market myself , I am an agent with a ton of contacts so that helped out. I also did all the work with my uncle which added great value to my future flips because i have a much better idea of what is involved which helps greatly when calculated cost and speaking with the contractors

What was the outcome?

Success after closing cost and holding cost we profited , we also lived in it to for close to a year. I need a way to figure out how to combine a living place for my family instead of renting and also how to start my dream of flipping homes. So this was a win win.

Lessons learned? Challenges?

That renovated an entire house myself is not for me to do the work myself , living in a home while gut renovating is challenging.

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

I sold it off market myself , I am an agent with a ton of contacts so that helped out. Gary Voorhees Houlihan Lawrence Real Esate

[Nathan Gesner]

Well done. I hope you have success in your future endeavors!