Fix & Flip 4bedroom 2bath single family

[W. S. Georges]

Investment Info:

Single-family residence fix & flip investment in Northwood.

Purchase price: $110,000
Cash invested: $95,000
Sale price: $290,000

This property was originally listed for sale for $130,000. It had a major foundation problem, one of the basement wall bowed in and a large crack ran diagonally across the whole wall. It looked like it was going to as some point cave it. Many investor's passed on this property. A wholesaler tried to whole sale it and couldn't. So it came back on the MLS by the seller's agent. I went to look at it and was confident that I can get the foundation problem taken care of. I put an offer in for $110,00, it was accepted. My renovation budget was $95,000, a lot of work went into this project. The project was fully renovated and sold 5 months later for $290,000.