Fix & Flip - Lake Station, IN

[Ronnie Johnson]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $62,000
Cash invested: $98,700

We purchased a home for cash using a direct mail campaign. We purchased for $62,000 and we put $36,000 into renovations. We will put it on the market for $162,500 in 2 weeks.

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

We purchased at a price that we couldn't pass up!

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

We found the deal through a direct mail campaign.

How did you finance this deal?

We financed with Cash.

How did you add value to the deal?

We did a fairly comprehensive remodel - getting the home up to code, new drywall, plumbing, electrical, refinished hardwood, 2 bathroom remodels, etc.

What was the outcome?

We intend to make a $62,500 profit pre-tax and fees.

Lessons learned? Challenges?

You make money when you purchase - buy your property at the right price!

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

We have an agent partner that will facilitate the sale.