1st Flip sold in 2021. 24k profit.

[Andrew Asmus]

Investment Info:

Single-family residence fix & flip investment in Houston.

Purchase price: $125,000
Cash invested: $64,000
Sale price: $235,500

Purchased this SFR from the MLS the first day it was listed for 125k. Put 64k into the project and sold for $235.5k. Profit on the project was $24k.

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

This deal was interesting because of the location. I knew with an updated house in the particular location it would have no problem selling.

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

Found on the MLS, was persistent with the selling agent and gave him confidence that I was a sure thing and would close.

How did you finance this deal?

Bridge loan from a friend and a hard money loan. No money out of pocket.

How did you add value to the deal?

Remodeled and added an extra bathroom.

What was the outcome?

Profited from the deal and sold quickly.

Lessons learned? Challenges?

Create a plan and have faith that the final product will be a good one, and see it through.