Condo Fix and Flips in Huntsville, AL

[Stacy Bell]

Investment Info:

Condo fix & flip investment in Huntsville.

Purchase price: $26,000
Cash invested: $2,000
Sale price: $39,000

First flip in Huntsville. Bought for sale by owner, flipped and resold.

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

It was a low risk investment.

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

I lived near the property.

How did you finance this deal?

I paid cash.

How did you add value to the deal?

Just needed paint and cleaning. I also staged condo when selling.

What was the outcome?

Actually posted several places and picked up an investor off of Craigslist.

Lessons learned? Challenges?

Buy and hold longer to increase resale value. Also, making sure HOA money does not cut into profits, especially if turning into a rental property.