Charleston Portfolio Flip

[Gabriel Johnson]

Investment Info:

Single-family residence fix & flip investment in Charleston.

Purchase price: $800,000
Cash invested: $28,000
Sale price: $1,010,000

Portfolio of eight tenant occupied single family homes in Charleston, South Carolina. We purchased the portfolio with hard money, 2 points 12 percent interest only payments. With expensive debt service and tenants occupying the houses, we chose to quickly break up and offload the portfolio. Our holding period will end June 21, netting us close to $200,000. Everything was carried out off-market, collectively saving us over $50,0000 in commissions on both ends.

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

Direct Mail; We honored his asking price of $800,000

How did you finance this deal?

Hard Money; Shout out to Rehab Wallet!

[Gabriel Johnson]

@Michael Kinsella @Will Gaston @Lien Vuong

Thanks y’all!

I got the call in mid April, contracted beginning of May, closed by the end of May. The portfolio was performing with all the tenants but one paying rent, which alleviated risk.